Bank Nifty Outlook for 23rd Nov

 In the previous session:  

Bank Nifty went up by 162 points before closing higher by 110 points on Tuesday.

Bank Nifty made a new lifetime high of 42622.75 in this upmove from the lows of 16116.25 made on 24th March 2020

On 22nd Nov:

Bank Nifty triggered our long trade and completed just 1 target doing 70 points.

For 23rd Nov:

Sustaining above 42540 enter for 42590 - 42650 - 42800, SL 42480

Sustaining below 42370 enter for 42320 - 42260 - 42110, SL 42430

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 42585 - 42675 for a move towards initial long targets of 42925 - 42990. 

Sustaining or closing above 42990 Bank Nifty may move towards next long targets of 43200 - 43440

On the downside:

Bank Nifty has to sustain and close below its immediate support at 42290 - 42200 for a move towards initial short targets of 41950 - 41880. 

Sustaining or closing below 41880 Bank Nifty may move towards next short targets of 41670 - 41440

So far this week Bank Nifty made a low of 42202.55 nearly breaking our weekly support zone of 42290 - 42200 and today closed at 42457.05

Now in the coming session Bank Nifty has immediate resistance at 42585 - 42675 which it needs to break and sustain/close above for a further move. On the downside Bank Nifty has immediate support at 42290 - 42200 which it needs to break and sustain/ close below for a further move 

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 42622.75 on 17th 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.