Bank Nifty Outlook for 12th Oct

 In the previous session : 

Bank Nifty went down by 30 points then went up by 720 points before closing higher by 518 points on Monday.

Bank Nifty made a new life time high of 38495.30 in this upmove from the lows of 16116.25 made on 24th March

On 11th Oct :

Bank Nifty triggered our long trade and completed all targets and more doing 625 points  

For 12th Oct :

Sustaining above 38405 enter for 38470 - 38550 - 38750 , SL 38320

Sustaining below 38185 enter for 38120 - 38040 - 37840 , SL 38260

Now for this week :

Bank Nifty has to break and sustain above 37920 - 38010 where it has its initial resistance for a further move towards 38255 - 38315 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 37630 - 37540 where it has its initial support for a further move towards 37300 - 37230 where it has its next support for the week 

So far this week Bank Nifty made a new life time high of 38495.30 breaking above both our weekly targets and closed within our next weekly target zone . Now in the coming session Bank Nifty has to hold above 37920 - 38010 on dips for a bounce and sustaining / closing above 38315 we can see it move up further towards 38525 - 38750 else breaking and sustaining below 37920 we can see if dip further towards 37630 - 37540 .

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 38495.30 on 11th Oct 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18041.95 on 11th Oct 2021 from the lows of 7511 made on 24th March 2020.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.