Monday, 26 November 2018

Bank Nifty Spot Outlook for 26th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 26233.65 , made a high of 26323.95,  made a low of 25947.85,  before closing at 25999.45

Had mentioned that long trade for the day will get triggered on sustaining above 26325 and short trade for the day will get triggered on sustaining below 26200 . Bank Nifty triggered our short trade and completed all targets and did 250 points.

Now in this week Bank Nifty needs to break and sustain / close above 26190 to test 26390 - 26440 initially and above it we can see a test of 26610 - 26800 . Similarly Bank Nifty needs to break and sustain / close below 25810 to test 25610 - 25560 initially and below it we can see a test of 25390 - 25200.

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 26379.10 near our initial expected levels of 26355 - 26515 . Also as mentioned last week " Now closing below 26090 we can see a move till 25995 - 25925 ." , and Bank Nifty made a low of 25947.85 . Now Bank Nifty needs to hold 25850 - 25800 zone to bounce back else breaking below it we can see a move till 25695 - 25610

Now in the coming session Bank Nifty needs to break and sustain above 26070 to test 26145 - 26165 initially and sustaining above it we can see a further upmove till 26230 - 26300. Similarly breaking and sustaining below 25925 we can see a test of 25855 - 25835 initially and sustaining below it we can see a further correction till 25770 - 25700 .


Bank Nifty Spot Levels for the day are

Long above 26070 for 26115 - 26165 - 26300 , SL 26020

Short below 25925 for 25885 - 25835 - 25700 , SL 25980

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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.