Bank Nifty Outlook for 26th Nov

In the previous session : 

Bank Nifty went up by 460 points then went down by 605 points before closing lower by 540 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 25th Nov :

Bank Nifty triggered our long trade with a gap up and completed 2 targets and did not give a good entry. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets giving 400 points. 

For 26th Nov :

Sustaining above 29395 enter for 29515 - 29655 - 30025 , SL 29255

Sustaining below 29000 enter for 28880 - 28740 - 28370 , SL 29135

Now for this week :

Bank Nifty had immediate resistance near 29595 - 29815 and above it next resistance near 30425 - 30580 zone

Bank Nifty has immediate support near 28880 - 28655 and below that next support near 28045- 27895 zone

Bank Nifty made a high of 30197.85 and reversed to correct till 29132.30 . Now tomorrow Bank Nifty has immediate weekly support at 28880 - 28655 and on sustaining below it we can see it move towards its next weekly supports. On the upside immediate resistance is at 29595 - 29815 zone . 

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 30197.85 on 25th Nov in the bounce from the fall till 16116.25  while Nifty has made a new lifetime high of 13145.85 on 25th 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.