Bank Nifty Outlook for 03rd Nov

 In the previous session : 

Bank Nifty went up by 344 points then went down by 173 before closing higher by 174 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 02nd Nov :

Bank Nifty initially triggered our long trade but did not complete any target and took our stoploss. Post that Bank traded sideways between our long and short trigger point indicating indecisiveness. 

For 03rd Nov :

Sustaining above 40185 enter for 40330 - 40505 - 40970 , SL 40010

Sustaining below 39695 enter for 39545 - 39370 - 38910 , SL 39865

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 40107.60 breaking above our initial weekly long targets and also closed above it again. Now in the coming session Bank Nifty holding above 39710 can make a move towards 40330 - 40370 and on dips and holding above 39370 we may see it bounce again whereas breaking and sustaining below 39370 we may see it move towards 39150 - 38910 .

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.