Bank Nifty Outlook for 06th Nov

 In the previous session : 

Bank Nifty went up by 603 points before closing higher by 541 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 05th Nov :

Bank Nifty  triggered our long trade and completed 2 targets doing 350+ points

For 06th Nov :

Sustaining above 26530 enter for 26665 - 26815 - 27230 , SL 26380

Sustaining below 26095 enter for 25965 - 25810 - 25400 , SL 26250

Now for this week :

Bank Nifty has immediate resistance near 24115 - 24250 and above it next resistance near 24615 - 24710 zone

Bank Nifty has immediate support near 23685 - 23555 and below that next support near 23185- 23095 zone

Bank made a new high of 26375.20 from the lows of March . Bank Nifty is approaching 26580- 26800 . On the downside support is now at 25380 - 25570 levels . 

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 now made a high of 25891 on 04th Nov 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.