Tuesday, 27 November 2018

Bank Nifty Spot Outlook for 28th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 26286.10 , made a low of 26268.25,  made a high of 26491.25,  before closing at 26433.10

Had mentioned that long trade for the day will get triggered on sustaining above 26440 and short trade for the day will get triggered on sustaining below 26290 . Bank Nifty initially triggered our short trade and took our stoploss . It then triggered our long trade and did just 1 target .

As mentioned " 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.", and today Bank Nifty confirmed our weekly long trade and completed our initial target of 26390 - 26440 with a high of 26491.25 . Now it needs to break and sustain above 26440 in the coming sessions to make a move towards 26610 - 26800 .

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 today made a high of 26491.25 still holding above 25850 near our initial expected levels of 26355 - 26515 . 

Now in the coming session Bank Nifty needs to break and sustain above 26515 to test 26590 - 26610 initially and sustaining above it we can see a further upmove till 26675 - 26745. Similarly breaking and sustaining below 26370 we can see a test of 26295 - 26275 initially and sustaining below it we can see a further correction till 26215 - 26145 .


Bank Nifty Spot Levels for the day are

Long above 26515 for 26555 - 26610 - 26745 , SL 26465

Short below 26370 for 26330 - 26275 - 26145 , SL 26420

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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.