Bank Nifty Outlook for 25th Nov

 In the previous session:  

Bank Nifty went up by 434 points before closing higher by 346 points on Thursday.

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 24th Nov:

Bank Nifty triggered our long trade with a gap up at our 1st target and completed all targets doing 250 points.

For 25th Nov:

Sustaining above 43140 enter for 43170 - 43220 - 43340, SL 43090

Sustaining below 43010 enter for 42970 - 42930 - 42810, SL 43060

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 to make a high of 43163.40 almost nearing our last long targets for the week of 43200 - 43440.

Now in the coming session Bank Nifty has to sustain above 42990 to move towards 43200- 43440. On the downside Bank Nifty has to break its support at 42900 to move towards 42675 - 42585,

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.