Bank Nifty Outlook for 29th Oct

 In the previous session : 

Bank Nifty went up by 57 points then went down by 1524 points before closing lower by 1365 points on Thursday.

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 28th Oct :

Bank Nifty triggered our short trade and completed all targets and more doing 1300+ points .

For 29th Oct :

Sustaining above 39735 enter for 39875 - 40035 - 40460 , SL 39575

Sustaining below 39285 enter for 39145 - 38985 - 38560 , SL 39440

Now for this week :

Bank Nifty has to break and sustain above 40490 - 40600 where it has its initial resistance for a further move towards 40870 - 40950 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 40150 - 40050 where it has its initial support for a further move towards 39770 - 39700 where it has its next support for the week 

So far this week Bank Nifty made a high of 41829.60 completing both weekly long targets and has post that reversed to make a low of 39350.20 on Thursday completing both weekly initial short targets zone and also closed below it. Now in the coming sessions Bank Nifty sustaining below 39700 can dip further towards 39180 - 38980 . For a bounce Bank Nifty has to sustain above 39800 for move towards 40050 - 40250 . 

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.