Bank Nifty Outlook for 10th Nov

In the previous session : 

Bank Nifty went down by 796 points before closing higher by 735 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 had  then corrected till 16116.25 points on 24th March

On 09th Nov :

Bank Nifty  triggered our long trade and nearly completed all targets doing 500 points

For 10th Nov :

Sustaining above 27740 enter for 27870 - 28015 - 28410 , SL 27595

Sustaining below 27325 enter for 27200 - 27055 - 26660 , SL 27470

Now for this week :

Bank Nifty has immediate resistance near 27130 - 27335 and above it next resistance near 27900 - 28045 zone

Bank Nifty has immediate support near 26470 - 26265 and below that next support near 25695- 25555 zone

Bank Nifty today made a high of 27595 and closed strongly at 27534.10. Looking at the strength we can see it test the next resistance of 27900 - 28045 and if sustains above it then can move towards 28450 - 28530 too.

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

Bank Nifty has now made a high of 27595 on 09th Nov in the bounce from the fall till 16116.25  while Nifty has made a new lifetime high of 12474.05 on 09th Nov from the lows of 7511 made on 24th March.

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.