Thursday, 29 November 2018

Bank Nifty Spot Outlook for 30th Nov

BANK NIFTY


In the previous session Bank Nifty spot opened at 26641.60 , made a low of 26577.15,  made a high of 27003.75,  before closing at 26939.60

Had mentioned that long trade for the day will get triggered on sustaining above 26530 and short trade for the day will get triggered on sustaining below 26385 . Bank Nifty triggered our long trade and did 400+ points . 

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 Bank Nifty had confirmed our weekly long trade and completed all our weekly long targets and exceeded it by 200 points giving 780 points 

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 27003.75 still holding above 25850 near our next target levels of 27045 - 27630 which was expected above 26515 . 

Now in the coming session Bank Nifty needs to break and sustain above 27025 to test 27115 - 27140 initially and sustaining above it we can see a further upmove till 27220 - 27305. Similarly breaking and sustaining below 26855 we can see a test of 26760 - 26740 initially and sustaining below it we can see a further correction till 26660 - 26575. 


Bank Nifty Spot Levels for the day are

Long above 27025 for 27080 - 27140 - 27305 , SL 26965

Short below 26855 for 26800 - 26740 - 26575 , SL 26910

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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.