Monday 12 November 2018

Bank Nifty Spot Outlook for 13th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 25816.15, made a high of 25907.20,  made a low of 25495.10,  before closing at 25539.75

Had mentioned that long trade for the day will get triggered on sustaining above 25860 and short trade for the day will get triggered on sustaining below 25680 . Bank Nifty initially triggered our long trade and nearly did our 1st target . It then triggered our short trade and did 180 points. .

As mentioned " Now in this week Bank Nifty needs to break and sustain / close above 26005 to test 26250 - 26315 initially and above it we can see a test of 26525 - 26760 . Similarly Bank Nifty needs to break and sustain / close below 25535 to test 25290 - 25230 initially and below it we can see a test of 25015 - 24785." , and today Bank Nifty has given a close just above our short confirmation levels and sustaining below 25535 in the coming sessions we can see a test of 25290 - 25230 levels initially.

For the month of November , further longs will get confirmed with a consecutive close above 25850 for a initial target of 26355 - 26515 and sustaining / closing above it we can see a further test of 27045 - 27630 . Similarly , shorts will get confirmed with a consecutive close below  24570 for a initial target of 23950 - 23795 and sustaining / closing below it we can see a further move till 23265 - 22680 . 

Now in the coming session Bank Nifty needs to break and sustain above 25620 to test 25705 - 25725 initially and sustaining above it we can see a further upmove till 25795 - 25875. Similarly breaking and sustaining below 25460 we can see a test of 25375 - 25355 initially and sustaining below it we can see a further correction till 25285 - 25205.


Bank Nifty Spot Levels for the day are

Long above 25620 for 25665 - 25725 - 25875 , SL 25565

Short below 25460 for 25415 - 25355 - 25205 , SL 25515

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

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