In the previous session:
Bank Nifty went up by 263 points then went down by 210 points before closing lower by 91 points on Friday.
Bank Nifty made a new lifetime high of 43339.15 in this upmove from the lows of 16116.25 made on 25th March 2020
On 25th Nov:
Bank Nifty initially triggered our long trade with a gap up near our 02nd target . Post that Bank Nifty reversed to trigger our short trade and almost completed all targets doing 140 points.
For 28th Nov:
Sustaining above 43050 enter for 43090 - 43140 - 43250, SL 43000
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 43090 - 43160 for a move towards initial long targets of 43340 - 43380.
Sustaining or closing above 43380 Bank Nifty may move towards next long targets of 43530 - 43700
On the downside:
Bank Nifty has to sustain and close below its immediate support at 42880 - 42810 for a move towards initial short targets of 42640 - 42580.
Sustaining or closing below 42580 Bank Nifty may move towards next short targets of 42440 - 42270
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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