In the previous session:
Bank Nifty went up by 403 points before closing higher by 272 points on Wednesday.
Bank Nifty made a new lifetime high of 42860.55 in this upmove from the lows of 16116.25 made on 24th March 2020
On 23rd Nov:
Bank Nifty triggered our long trade with a gap up above our 2nd target and went on to complete all targets.
For 24th Nov:
Sustaining above 42810 enter for 42860 - 42910 - 43060, SL 42750
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 bounced back today breaking above our weekly resistance zone of 42585 - 42675 to make a high today of 42860.55 and closed at 42729.10
Now in the coming session Bank Nifty has to sustain above 42585 - 42675 zone to move towards 42925 - 42990. On the downside Bank Nifty breaking below 42540 can move towards 42290 - 42200
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 42860.55 on 23rd 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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