Bank Nifty Outlook for 02nd Dec

 In the previous session : 

Bank Nifty went down by 98 points then went up by 310 points before closing higher by 209 points on Tuesday 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 01st Dec :

Bank Nifty triggered our long trade but did not complete any targets.

For 02nd Dec :

Sustaining above 30010 enter for 30125 - 30255 - 30615 , SL 29875

Sustaining below 29630 enter for 29515 - 29380 - 29020 , SL 29760

Now for this week :

Bank Nifty had immediate resistance near 29940 - 30140 and above it next resistance near 30700 - 30850 zone

Bank Nifty has immediate support near 29280 - 29075 and below that next support near 28515 - 28375 zone

Bank Nifty this week so far has made a high of 29919.75 and closed at 29817.85. Breaking and sustaining above 29940 - 30140 we can see further upmove .

Overall Bank Nifty has strong resistance at 30710 levels and unless we get a strong close above it we can a correction on upmoves.

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.