Wishing everyone a very Happy Diwali and a Prosperous New Year
In the previous session :
Bank Nifty went up by 221 points then went down by 633 before closing lower by 536 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 03rd Nov :
Bank Nifty triggered our short trade and completed 2 targets doing 325 points .
For 04th Nov :
Sustaining above 39645 enter for 39790 - 39960 - 40420 , SL 39475
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 corrected to back towards 39300 levels . Now in the coming session Bank Nifty has immediate resistance at 39700 - 39800 zone and breaking and sustaining above it is required for any further upmove. On the downside Bank Nifty has immediate support at 38750 - 38520 on breaking and sustaining below 39000.
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.
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