Wednesday 10 November 2021

Bank Nifty Outlook for 11th Nov

 In the previous session : 

Bank Nifty went down by 495 points before closing lower by 345 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 10th Nov :

Bank Nifty triggered our short trade and completed 2 targets and more doing 280 points. 

For 11th Nov :

Sustaining above 39225 enter for 39345 - 39485 - 39865 , SL 39085

Sustaining below 38820 enter for 38700 - 38560 - 38180 , SL 38960


Now for this week :

Bank Nifty has to break and sustain above 39965 - 40205 where it has its initial resistance for a further move towards 40875 - 41045 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 39185 - 38940 where it has its initial support for a further move towards 38275 - 38100 where it has its next support for the week 

So far this week Bank Nifty has made a low of 38873.80 breaking below our initial support zone and closed within it . Now in the coming sessions Bank Nifty has to break and sustain above 39225 for a move towards 39500 - 39700 whereas breaking and sustaining below 38820 we can see a further dip towards 38550 - 38350. 

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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