Tuesday 23 November 2021

Bank Nifty Outlook for 24th Nov

 In the previous session : 

Bank Nifty went down by 481 points then went up by 320 points before closing higher by 144 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 23rd Nov :

Bank Nifty initially triggered our short trade and completed all targets doing 350 points. Post that Bank Nifty triggered our long trade and completed 2 targets and more  doing 200+ points .

For 24th Nov :

Sustaining above 37390 enter for 37460 - 37540 - 37760 , SL 37310

Sustaining below 37160 enter for 37090 - 37000 - 36790 , SL 37240


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 36647.55 breaking below our next weekly support zone and today bounced back to close well above 37200 . Now Bank Nifty has immediate resistance at 37540 - 37780 on upmoves where we may see selling again . On the downside Bank Nifty has immediate support at 36600 and breaking below it we may see further correction towards 36280 - 35940 levels.

Bank Nifty is weak now till its reclaims 38350 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.

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