Bank Nifty Outlook for 28th Oct

 In the previous session : 

Bank Nifty went down by 155 points then went up by 536 points before closing higher by 410 points on Thursday.

Bank Nifty made a new life time high of 37708.75 in this upmove from the lows of 16116.25 made on 24th March

On 27th May:

Bank Nifty triggered our long trade and completed nearly 2 targets doing 190 points . 

For 28th May :

Sustaining above 35330 enter for 35475 - 35640 - 36080 , SL 35160

Sustaining below 34860 enter for 34715 - 34550 - 34100 , SL 35020

Now for this week :

Bank Nifty has immediate resistance near 35025 - 35285 and sustaining or closing above we can see a further move towards 36000 - 36185 zone

Bank Nifty has immediate support near 34190 - 33930 and sustaining or closing below that we can see a move towards 33200 - 33000 zone

So far this week Bank Nifty has made a high of 35220.80 testing our initial weekly resistance zone and closed within it .  Now it needs to break and sustain above 35285 for a further move towards 36000 - 36185 else we may see it dip till 33700 levels 

Now as long as Bank Nifty is closing above 33700 on dips we can see it bounce back. On the upside Bank Nifty can see some selling pressure near 35025 - 35285. 

This month Bank Nifty has strong support on the downside at 31990 - 31490 zone and it needs to give a consecutive close below for further declines .  

On the upside Bank Nifty has strong resistance at 33580 - 34070 zone and it needs to give a consecutive close above it for further gains.

In the month of April Bank Nifty made a high of 34287 and made a low of  30405.20 .

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 37708.75 on 16th Feb 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 15431.75  on 16th Feb 2021 from the lows of 7511 made on 24th March 2020.

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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.