Bank Nifty Outlook for 22nd Oct

 In the previous session : 

Bank Nifty went down by 90 points then went up by 682 points before closing higher by 512 points on Thursday.

Bank Nifty made a new life time high of 40200.45 in this upmove from the lows of 16116.25 made on 24th March

On 21st Oct :

Bank Nifty triggered our long trade and completed all targets and more doing 550+ points. 

For 22nd Oct :

Sustaining above 40140 enter for 40200 - 40280 - 40480 , SL 40060

Sustaining below 39920 enter for 39860 - 39780 - 39580 , SL 40000

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 initially 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, and today bounced back to make a new life time high of 40200.45 . Now Bank Nifty has to hold above 39780 on dips and sustain above 39955 for a move towards 40200 - 40460 . Breaking and sustaining below 39780 we may see it move towards 39600 - 39450 where it has its support now . 

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 40200.45 on 21st 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.