Tuesday 10 November 2020

Bank Nifty Outlook for 11th Nov

 In the previous session : 

Bank Nifty went up by 1268 points before closing higher by 1072 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 had  then corrected till 16116.25 points on 24th March


On 10th Nov :

Bank Nifty  triggered our long trade with a big gap up and completed all targets and exceeded it giving 700+ points


For 11th Nov :

Sustaining above 28800 enter for 28910 - 29040 - 29400 , SL 28660


Sustaining below 28415 enter for 28305 - 28170 - 27815 , SL 28550



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 28802.50 well above our next expected targets of 28530 and also closed at 28606. Bank Nifty now has immediate resistance at 28900 - 29300 zone we can see some cooling off in this upmove . 


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 28802.50 on 10tth Nov in the bounce from the fall till 16116.25  while Nifty has made a new lifetime high of 12643.90 on 10th 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. 


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