Bank Nifty Outlook for 02nd Nov

 In the previous session : 

Bank Nifty went up by 747 points before closing higher by 648 points on Monday.

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 01st Nov :

Bank Nifty triggered our long trade and completed 2 targets and more doing 500+ points .

For 02nd Nov :

Sustaining above 40005 enter for 40155 - 40325 - 40785 , SL 39835

Sustaining below 39520 enter for 39370 - 39200 - 38740 , SL 39690

Now for this week :

Bank Nifty has to break and sustain above 39480 - 39710 where it has its initial resistance for a further move towards 40330 - 40490 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 38750 - 38520 where it has its initial support for a further move towards 37900 - 37740 where it has its next support for the week 

So far this week Bank Nifty made a high of 39862 breaking above our initial weekly long targets and also closed above it. Now in the coming session Bank Nifty holding above 39710 can make a move towards 40330 - 40490 which is next weekly long target zone. On the downside Bank Nifty has support at 39200 on dips and holding the same we may see it bounce again whereas breaking and sustaining below it we may see it move towards 38980 - 38750 .

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.