Bank Nifty Spot Outlook for 24th Nov

 In the previous session : 

Bank Nifty went up by 256 points then went down by 383 points before closing lower by 212 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 23rd Nov :

Bank Nifty initially triggered our long trade and took our stoploss.  Post that it triggered our short trade and  completed just 1 target doing 150 points.

For 24th Nov :

Sustaining above 29205 enter for 29320 - 29445 - 29790 , SL 29080

Sustaining below 28845 enter for 28730 - 28600 - 28260 , SL 28970

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 traded between the initial resistance and support zones today and we should see a break of it on either side in the coming sessions. Bank Nifty can face strong resistance near the next resistance zone for the week.

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. 

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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.