Bank Nifty Outlook for 19th Nov

In the previous session : 

Bank Nifty went down by 125 points then went up by 603 points before closing higher by 568 points on Wednesday 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 18th Nov :

Bank Nifty triggered our long trade and did 400+ points.

For 19th Nov :

Sustaining above 29930 enter for 30040 - 30170 - 30510 , SL 29805

Sustaining below 29570 enter for 29460 - 29330 - 28990 , SL 29695

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 29784.75 and closed at 29749.85 well above the next resistance zone and as long as its sustaining above it we can see a move towards 30500 - 30800 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 29784.75 on 18th Nov in the bounce from the fall till 16116.25  while Nifty has made a new lifetime high of 12948.85 on 18th 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. 

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.