Bank Nifty Spot Outlook for 15th Nov

BANK NIFTY

In the previous session Bank Nifty spot opened at 25952.40 , made a high of 26045.05,  made a low of 25806.70,  before closing at 25930.15

Had mentioned that long trade for the day will get triggered on sustaining above 25845 and short trade for the day will get triggered on sustaining below 25690 . Bank Nifty triggered our long trade with a gap up and nearly completed all our targets.

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 . 

As mentioned "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 ." , and today Bank Nifty has given a close above 25850 and a consecutive close above it is required.

Now in the coming session Bank Nifty needs to break and sustain above 26000 to test 26070 - 26090 initially and sustaining above it we can see a further upmove till 26155 - 26225. Similarly breaking and sustaining below 25860 we can see a test of 25790 - 25770 initially and sustaining below it we can see a further correction till 25705 - 25640.

Bank Nifty Spot Levels for the day are

Long above 26000 for 26040 - 26090 - 26225 , SL 25950

Short below 25860 for 25820 - 25770 - 25640 , SL 25910

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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.