Bank Nifty Outlook for 20th OCt

 In the previous session : 

Bank Nifty went up by 787 points before closing higher by 733 points on Monday 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 19th Oct :

Bank Nifty triggered our long trade and completed all targets doing 575  points

For 20th Oct :

Sustaining above 24445 enter for 24560 - 24685 - 25030 , SL 24320

Sustaining below 24080 enter for 23975 - 23850 - 23500 , SL 24215

Now for this week :

Bank Nifty has immediate resistance near 23800 - 23970 and above it next resistance near 24430 - 24550 zone

Bank Nifty has immediate support near 23265 - 23095 and below that next support near 22640 - 22520 zone

As mentioned above Bank Nifty today broke above the immediate resistance and closed near its next resistance zone at 24266.75 . Now tomorrow it needs to sustain above 24560 else we may see a correction.

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 12022.05 on 12th Oct 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.