In the previous session:
Bank Nifty went up by 742 points before closing higher by 533 points on Friday.
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 11th Nov:
Bank Nifty opened with a big gap up above all our long target and did not give a trade. Had shared revised levels on telegram based on which we got a long trade which did 80 points.
For 14th Nov:
Sustaining above 42230 enter for 42285 - 42350 - 42520, SL 42160
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 42290 - 42380 for a move towards initial long targets of 42640 - 42710.
Sustaining or closing above 42710 Bank Nifty may move towards next long targets of 42920 - 43160
On the downside:
Bank Nifty has to sustain and close below its immediate support at 41980 - 41890 for a move towards initial short targets of 41630 - 41570.
Sustaining or closing below 41570 Bank Nifty may move towards next short targets of 41350 - 41110
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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