Bank Nifty Outlook for 15th Nov

 In the previous session:  

Bank Nifty went up by 94 points then went down by 172 points before closing lower by 60 points on Monday.

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 14th Nov:

Bank Nifty triggered our short trade and did just 1 target doing 70 points. For the most part of the day Bank Nifty traded sideways.

For 15th Nov:

Sustaining above 42170 enter for 42220 - 42290 - 42450, SL 42100

Sustaining below 41980 enter for 41930 - 41860 - 41700, SL 42050

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

So far Bank Nifty made a high of 42231.45 and made a low of 41965.45 testing our weekly support zone of 41980 - 41890.

Now in the coming session Bank Nifty has to break and sustain below 41890 for a move towards 41630 - 41570 on the downside else holding the same it can trade sideways. On the upside Bank Nifty has immediate resistance at 42290 - 42380 which it needs to break and sustain above for a further move on the upside.

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.