Monday, 19 November 2018

Bank Nifty Spot Outlook for 20th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 26364.60 , made a high of 26379.10,  made a low of 26204.35,  before closing at 26300.70

Had mentioned that long trade for the day will get triggered on sustaining above 26305 and short trade for the day will get triggered on sustaining below 26185 . Bank Nifty triggered our long trade and completed 2 targets giving 75 points.

Now in this week Bank Nifty needs to break and sustain / close above 26405 to test 26565 - 26610 initially and above it we can see a test of 26750 - 26905 . Similarly Bank Nifty needs to break and sustain / close below 26090 to test 25925 - 25885 initially and below it we can see a test of 25740 - 25585.

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 Bank Nifty gave a consecutive close above 25850 and made a high of 26364.60 just near our initial expected levels of 26355 - 26515 . 

Now in the coming session Bank Nifty needs to break and sustain above 26360 to test 26425 - 26440 initially and sustaining above it we can see a further upmove till 26490 - 26550. Similarly breaking and sustaining below 26240 we can see a test of 26180 - 26165 initially and sustaining below it we can see a further correction till 26110 - 26050.


Bank Nifty Spot Levels for the day are

Long above 26360 for 26395 - 26440 - 26550 , SL 26320

Short below 26240 for 26205 - 26165 - 26050 , SL 26280

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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.