In the previous session :
Bank Nifty went up by 803 points before closing higher by 712 points on Tuesday as compared to its previous day's close .
Bank Nifty had made a life time high of 32613.10 on 30th December and had then corrected till 16116.25 points on 24th March
On 24th Nov :
Bank Nifty triggered our long trade and completed all targets giving 600 points.
For 25th Nov :
Sustaining above 29940 enter for 30065 - 30210 - 30590 , SL 29800
Now for this week :
Bank Nifty had immediate resistance near 29595 - 29815 and above it next resistance near 30425 - 30580 zone
Bank Nifty has immediate support near 28880 - 28655 and below that next support near 28045- 27895 zone
Bank Nifty tested the initial resistance and closed at 29737.25 . Now on sustaining above 29815 we can see a move towards 30425 - 30580.
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 29827.80 on 24th Nov in the bounce from the fall till 16116.25 while Nifty has made a new lifetime high of 13079.10 on 24th Nov from the lows of 7511 made on 24th March.
How to use these levels
- Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels.
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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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