In the previous session:
Bank Nifty went down by 244 points then went up by 175 points before closing higher by 36 points on Monday.
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 28th Nov:
Bank Nifty opened near our last short target for the day and did not give a trade. Post that Bank Nifty reversed to trigger our long trade and completed 2 targets doing 100+ points.
For 29th Nov:
Sustaining above 43080 enter for 43115 - 43160 - 43270, SL 43040
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
So far this week Bank Nifty made a low of 42740 breaking below our weekly support zone and bounced back sharply to make a high of 43159.80 testing our weekly resistance zone and closed at 43020.45.
Now in the coming session Bank Nifty has to break and sustain above 43160 to move towards 43340 - 43380. On the downside Bank Nifty has immediate support at 42880 - 42810 which it needs to break and sustain below for a move towards 42640 - 42580.
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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