Bank Nifty Outlook for 01st Dec

 In the previous session :  

Bank Nifty went up by 797 points then went down by 450 points before closing lower by 281 points on Tuesday.

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 30th Nov :

Bank Nifty initially triggered our long trade and completed all targets and more doing 600+ points . Post that Bank Nifty triggered our short trade and completed 2 targets doing 250+ pts . 

For 01st Dec :

Sustaining above 35860 enter for 35975 - 36100 - 36420 , SL 35750

Sustaining below 35520 enter for 35415 - 35290 - 34970 , SL 35650

Now for this week :

Bank Nifty has to break and sustain above 36320 - 36490 where it has its initial resistance for a further move towards 36980 - 37110 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 35740 - 35560 where it has its initial support for a further move towards 37070 - 34950 where it has its next support for the week 

So far this week Bank Nifty made a low of 35327.90 breaking below our initial weekly support and bounced back today to make a high of 36774.20 breaking above our initial weekly resistance and then corrected sharply to close within our initial support zone.  Now in the coming session Bank Nifty has immediate support near 35300 which it needs to hold for a bounce else we may see it correct towards 35000 - 34800 . On the upside Bank Nifty has immediate resistance at 36950 .

 

Bank Nifty is weak now till its reclaims 38100 on closing basis 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 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.