In the previous session:
Bank Nifty went down by 465 points before closing lower by 179 points on Thursday.
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 10th Nov:
Bank Nifty opened with a big gap down near our last short target and did not give a trade. Had shared revised levels on telegram based on which we got a long trade which did just 1 target and took our TSL and then short trade which again did just 1 target and took our TSL.
For 11th Nov:
Sustaining above 41690 enter for 41750 - 41810 - 41970, SL 41630
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 today made a low of 41318.60 and closed at 41603.75
Now in the coming session Bank Nifty has to sustain above 41510 for a move towards 41770 - 41850 and has to break and sustain above 41850 for a further move towards 42070 - 42320. On the downside Bank Nifty has immediate support now at 41400 - 41300 on dips which it needs to hold for a bounce else breaking and sustaining below 41300 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.
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