In the previous session:
Bank Nifty went up by 517 points before closing higher by 310 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 15th Nov:
Bank Nifty triggered our long trade with a gap up well above our last target and did not give a trade
For 16th Nov:
Sustaining above 44260 can move towards 44295 - 44340 - 44450, SL 44220
In the Previous Week:
Bank Nifty triggered our weekly long trade but did not complete any targets
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 43940 - 44010 to move towards its initial weekly long targets of 44215 - 44265.
Closing above 44265 Bank Nifty may move towards its last weekly long targets of 44440 - 44630
On the downside:
Bank Nifty has to sustain and close below its weekly support at 43700 - 43630 to move towards its initial weekly short targets of 43430 - 43375
Closing below 43375 Bank Nifty may move towards its last weekly short targets of 43200 - 43010
So far this week Bank Nifty has broken its weekly resistance and completed its initial weekly long targets till 44215 - 44265 with a high of 44408.55 and closed at 44201.70
Now in the coming session Bank Nifty has to sustain / close above 44265 to complete its last weekly targets of 44440 - 44630. On the downside Bank Nifty has immediate support at 44010 - 43940 on dips.
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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
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