Bank Nifty Outlook for 26th Oct

 In the previous session:

Bank Nifty went up by 246 points then went down by 392 points before closing lower by 319 points on Wednesday

Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 24th March 2020

On 25th Oct:

Bank Nifty initially triggered our long trade and completed 2 targets doing 130 points and then took our TSL. Post that Bank Nifty reversed to trigger our short trade and almost completed all targets doing 290 points 

For 26th Oct:

Sustaining above 42925 can move towards 42980 - 43050 - 43220, SL 42860

Sustaining below 42740 can move towards 42690 - 42620 - 42450, SL 42805

In the Previous Week: 

Bank Nifty triggered our weekly short trade below 43970 and completed our initial weekly short targets till 43640 - 43550 with a low of 43558.10 doing 400 points

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 43890 - 44000 to move towards its initial weekly long targets of 44280 - 44360. 

Closing above 44360 Bank Nifty may move towards its last weekly long targets of 44600 - 44870

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43550 - 43450 to move towards its initial weekly short targets of 43160 - 43090

Closing below 43090 Bank Nifty may move towards its last weekly short targets of 42850 - 42580

So far this week Bank Nifty triggered our weekly short trade and made a low of 42758.40 reaching our last weekly short targets till 42850 - 42580 and closed at 42832.

Now in the coming session Bank Nifty sustaining below 42850 can move towards 42580. On the upside Bank Nifty has immediate resistance at 43090 - 43160 and has to break and sustain above this zone for a further bounce towards 43250 - 43350. 

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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 decision