Bank Nifty Outlook for 21st Oct

  In the previous session : 

Bank Nifty went up by 234 points then went down by 247 points before closing lower by 22 points on Wednesday.

Bank Nifty made a new life time high of 40011.15 in this upmove from the lows of 16116.25 made on 24th March

On 20th Oct :

Bank Nifty initially triggered our short trade and almost completed 2 targets doing 130 points and took our TSL. Post that Bank Nifty bounced and triggered our long trade and completed and nearly completed 2 targets doing 120 points and took our TSL . Later Bank Nifty again triggered our short trade and completed just 1 target . It was choppy volatile session with Bank Nifty indicating indecisiveness . 

For 21st Oct :

Sustaining above 39620 enter for 39680 - 39750 - 39940 , SL 39550

Sustaining below 39420 enter for 39360 - 39290 - 39100 , SL 39490

Now for this week :

Bank Nifty has to break and sustain above 39505 - 39605 where it has its initial resistance for a further move towards 39885 - 39955 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 39175 - 39075 where it has its initial support for a further move towards 38795 - 38725 where it has its next support for the week 

So far this week Bank Nifty made a high of 40011.15 completing our next weekly long targets and corrected by 700+ points to close within our initial short target zone. Now Bank Nifty has to hold above 39290 on dips and break and sustain above 39505 - 39605 for a move back towards 39885 - 39955 . Breaking and sustaining below 39290 we may see it move towards 39175 - 39075 where it has its initial support. 

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 40011.15 on 19th 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.