Bank Nifty Outlook for 18th Nov

  In the previous session : 

Bank Nifty went up by 720 points before closing higher by 662 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 17th Nov :

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

For 18th Nov :

Sustaining above 29360 enter for 29470 - 29595 - 29935 , SL 29235

Sustaining below 29000 enter for 28895 - 28765 - 28430 , SL 29130

Now for this week :

Bank Nifty had immediate resistance near 28760 - 28940 and above it next resistance near 29445 - 29570 zone

Bank Nifty has immediate support near 28170 - 27990 and below that next support near 27485- 27360 zone

 Bank Nifty made a high of 29239 and closed at 29181 well above the initial resistance and as long as its sustaining above it we can see a move towards 29445 - 29570 next.

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.