Bank Nifty Outlook for 27th Nov

 In the previous session : 

Bank Nifty went down by 273 points then went up by 426 points before closing higher by 353 points on Thursday 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 26th Nov :

Bank Nifty initially triggered our short trade but did not complete any targets and took our stoploss. Post that Bank Nifty reversed to trigger our long trade and nearly completed 2 targets giving 220 points . 

For 27th Nov :

Sustaining above 29750 enter for 29875 - 30015 - 30400 , SL 29610

Sustaining below 29350 enter for 29225 - 29080 - 28700 , SL 29490

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 28923.10 . It took support near the immediate support zone and bounced back towards the immediate resistance zone. Now upside immediate resistance is at 29595 - 29815 zone which it needs to break and sustain above for further 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 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.