Bank Nifty Outlook for 25th Oct

 In the previous session:  

Bank Nifty went up by 643 points before closing higher by 520 points on Monday.

Bank Nifty made a new lifetime high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March

On 24th Oct:

Bank Nifty triggered our long trade with a big gap up near our last target and did not give a trade.

For 25th Oct:

Sustaining above 41510 enter for 41600 - 41680 - 41990, SL 41350

Sustaining below 41140 enter for 41050 - 40930 - 40620, SL 41260

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 41070 - 41250 for a move   towards initial long targets of 41740 - 41870. 

Sustaining or closing above 41870 Bank Nifty may move towards next long targets of 42290 - 42750

On the downside:

Bank Nifty has to sustain and close below its immediate support at 40490 - 40320 for a move towards initial short targets of 39830 - 39700. 

Sustaining or closing below 39700 Bank Nifty may move towards next short targets of 39280 - 38820

 So far this week Bank Nifty made a high of 41427.25 breaking above our weekly resistance and closed at 41304.90.

Now in the coming session Bank Nifty has to sustain above 41070 to move towards its initial weekly targets of 41740 - 41870. On the downside Bank Nifty breaking and sustaining below 41070 can move towards its weekly support of 40490 - 40320.

In case 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 41840.15 on 15th Sep 2022 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.