Bank Nifty Outlook for 10th Nov

  In the previous session:  

Bank Nifty went up by 262 points then went down by 19 points before closing higher by 96 points on Wednesday.

Bank Nifty made a new lifetime high of 41948.90 in this upmove from the lows of 16116.25 made on 24th March 2020

On 09th Nov:

Bank Nifty opened with a big gap up above our 2nd long target and did not give a trade. We had shared revised levels on telegram based on which we got a short trade of 200+ points. 

For 10th Nov:

Sustaining above 41870 enter for 41920 - 41980 - 42130, SL 41810

Sustaining below 41700 enter for 41650 - 41590 - 41430, SL 41760

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 41420 - 41510 for a move   towards initial long targets of 41770 - 41850. 

Sustaining or closing above 41850 Bank Nifty may move towards next long targets of 42070 - 42320

On the downside:

Bank Nifty has to sustain and close below its immediate support at 41100 - 41000 for a move towards initial short targets of 40740 - 40670. 

Sustaining or closing below 40670 Bank Nifty may move towards next short targets of 40450 - 40200

So far this week Bank Nifty made a high of 41948.90 completing our initial weekly long target zone of 41770 - 41850 and closed at 41783.20. 

Now in the coming session Bank Nifty has to break and sustain above 41850 for a further move towards 42070 - 42320. On the downside Bank Nifty has immediate support now at 41510 - 41420 on dips which it needs to hold for a bounce else breaking and sustaining below 41400 we can see it move towards 41100 - 41000.

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 41948.90 on 09th Nov 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.