Bank Nifty Outlook for 28th Oct

 In the previous session : 

Bank Nifty went down by 151 points then went up by 734 points before closing higher by 694  points on Tuesday 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 27th Oct :

Bank Nifty triggered our long trade and completed all target and did 550 points.

For 28th Oct :

Sustaining above 24960 enter for 25080 - 25215 - 25575 , SL 24825

Sustaining below 24575 enter for 24460 - 24325 - 23965 , SL 24710

Now for this week :

Bank Nifty has immediate resistance near 24755 - 24930 and above it next resistance near 25400 - 25520 zone

Bank Nifty has immediate support near 24200 - 24030 and below that next support near 23555- 23435 zone

Bank Nifty had broken our immediate weekly support and made a low of 23867.75 in the previous session. Today it recovered above the initial support and bounced back to close at 24769.50 within its initial resistance. Now if it breaks above the initial resistance zone then we can see this upmove go towards the highs made in August. IF it is unable to break and sustain above the initial resistance then we can again expect the initial weekly support to be tested 

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 12025.45 on 15th 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.