Bank Nifty Outlook for 28th Oct

In the previous session : 

Bank Nifty went up by 108 points then went down by 488 points before closing lower by 363 points on Wednesday.

Bank Nifty made a new life time high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March

On 27th Oct :

Bank Nifty triggered our short trade and nearly completed all targets doing 350 points .

For 28th Oct :

Sustaining above 41030 enter for 41115 - 41220 - 41500 , SL 40920

Sustaining below 40725 enter for 40635 - 40525 - 40245 , SL 40830

Now for this week :

Bank Nifty has to break and sustain above 40490 - 40600 where it has its initial resistance for a further move towards 40870 - 40950 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 40150 - 40050 where it has its initial support for a further move towards 39770 - 39700 where it has its next support for the week 

So far this week Bank Nifty made a high of 41829.60 completing both weekly long targets and has post that reversed to make a low of 40750 on Wednesday. Now in the coming sessions Bank Nifty has to hold above 40500 on dips for a bounce back towards 41000 - 41300 . Overall Bank Nifty has to break and sustain / close above 41600 for a further move 42220 - 42970 .

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 41829.60 on 25th Oct 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18604.45 on 19th Oct 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.