Bank Nifty Outlook for 22nd Nov

 In the previous session : 

Bank Nifty went up by 182 points then went down by 293 points before closing lower by 63 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 18th Nov :

Bank Nifty initially triggered our long trade and nearly completed 2 targets doing 100 points and took our TSL. Post that Bank Nifty triggered our short trade and completed 2 targets and more doing 200+ points .

For 22nd Nov :

Sustaining above 38070 enter for 38110 - 38145 - 38280 , SL 37995

Sustaining below 37880 enter for 37845 - 37805 - 37670 , SL 37955

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 

Bank Nifty is weak now till its trading and closing below 38400 and upmoves towards our next weekly resistance can see selling pressure incase it moves up beyond the initial weekly resistance zone. 

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.