Bank Nifty Outlook for 12th Nov

 In the previous session : 

Bank Nifty went down by 677 points before closing lower by 463 points on Thursday.

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 11th Nov :

Bank Nifty triggered our short trade and completed 2 targets and more doing 450+ points. 

For 12th Nov :

Sustaining above 38695 enter for 38780 - 38875 - 39135 , SL 38600

Sustaining below 38425 enter for 38340 - 38245 - 37990 , SL 38520

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 38346.05 nearly testing our next support zone of 38275 - 38100 and bounced back to close above 38550. Now in the coming sessions Bank Nifty has to sustain above 38700 for a move towards 38940 - 39185 where it has immediate resistance now. On the downside Bank Nifty has to hold above 38240 - 38100 on dips which is its immediate support for a bounce and breaking below 38100 it can correct further towards 37800 - 37550 .

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.