Bank Nifty Outlook for 09th Oct

 In the previous session : 

Bank Nifty went up by 486 points before closing higher by 226 points on Thursday as compared to its previous day's  close . 

Bank Nifty had made a life time high of 32613.10 on 30th December and has since then  corrected by 15822 points . 

On 08th Oct :

Bank Nifty triggered our long trade and did 295 points

For 09th Oct :

Sustaining above 23325 enter for 23405 - 23500 - 23750 , SL 23230

Sustaining below 23060 enter for 22980 - 22885 - 22630 , SL 23150

As mentioned " Now for this week Bank Nifty has immediate resistance near 22585 - 22795 and above it next resistance near 23380 - 23530 ." , today Bank Nifty made a high of 23450.90 and closed at 23191.35 nearly completing our expected targets. 

Now on the upside Bank Nifty has immediate stiff resistance at 23500 - 23700 and it needs to sustain/close above it for a further upmove. 

On the downside Bank Nifty has immediate support near 22920 - 22880 and below that next support near 22600 - 22500 .

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

Bank Nifty had made a low of 16116.25 on 24th March. 

Bank Nifty has made a high of 25232.60 on 31st Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 11794.25 on 31st Aug from the lows of 7511 

How to use these levels 

• Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 

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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.