Wednesday, 14 November 2018

Bank Nifty Spot Outlook for 14th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 25422 , made a low of 25384.55,  made a high of 25796.50,  before closing at 25768.60

Had mentioned that long trade for the day will get triggered on sustaining above 25620 and short trade for the day will get triggered on sustaining below 25460 . Bank Nifty initially triggered our short trade and did 50 points and took our TSL. It then triggered our long trade and did 175 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  Bank Nifty did 3 targets on the short side and then took our TSL . Now in the coming session it has to break and sustain above 25915 to trigger our weekly long trade. 

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 25845 to test 25925 - 25945 initially and sustaining above it we can see a further upmove till 26015 - 26090. Similarly breaking and sustaining below 25690 we can see a test of 25615 - 25595 initially and sustaining below it we can see a further correction till 25525 - 25450.


Bank Nifty Spot Levels for the day are

Long above 25845 for 25890 - 25945 - 26090 , SL 25790

Short below 25690 for 25645 - 25595 - 25450 , SL 25745

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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.