Bank Nifty Outlook for 23rd Nov

 In the previous session : 

Bank Nifty went up by 264 points then went down by 1320 points before closing lower by 847 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 22nd Nov :

Bank Nifty initially triggered our long trade and nearly completed all targets doing 150 points and took our TSL. Post that Bank Nifty triggered our short trade and completed all targets and more doing 1200+ points .

For 23rd Nov :

Sustaining above 37235 enter for 37300 - 37375 - 37575 , SL 37160

Sustaining below 37025 enter for 36955 - 36880 - 36680 , SL 37095

Now for this week :

Bank Nifty has to break and sustain above 38100 - 38170 where it has its initial resistance for a further move towards 38370 - 38430 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 37860 - 37780 where it has its initial support for a further move towards 37580 - 37530 where it has its next support for the week 

So far this week Bank Nifty has made a low of 36655.40 breaking below our next weekly support zone and also closed well below it. Now Bank Nifty has immediate resistance at 37530 - 37580 on upmoves where we may see selling again . On the downside breaking below todays low Bank Nifty has immediate support at 36280 - 35940 .

Bank Nifty is weak now till its reclaims 38400 on closing basis on upmoves . 

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.