Bank Nifty Outlook for 02nd Dec

In the previous session :  

Bank Nifty went up by 750 points before closing higher by 669 points on Wednesday.

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 01st Dec :

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

For 02nd Dec :

Sustaining above 36550 enter for 36705 - 36855 - 37250 , SL 36430

Sustaining below 36170 enter for 36030 - 35870 - 35480 , SL 36300

Now for this week :

Bank Nifty has to break and sustain above 36320 - 36490 where it has its initial resistance for a further move towards 36980 - 37110 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 35740 - 35560 where it has its initial support for a further move towards 37070 - 34950 where it has its next support for the week 

So far this week Bank Nifty made a low of 35327.90 breaking below our initial weekly support and bounced till 36774.20 in the previous session breaking above our initial weekly resistance and has today closed closed above 36300 .  Now in the coming session Bank Nifty has immediate support near 35800 on dips and breaking and sustaining below it we may see a dip towards 35500. On the upside Bank Nifty has immediate resistance at 36850 - 37000 .

 

Bank Nifty is weak now till its reclaims 38100 on closing basis on upmoves . 

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.