Bank Nifty Outlook for 17th Nov

 In the previous session:

Bank Nifty went up by 219 points then went down by 137 points before closing lower by 40 points on Thursday

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 16th Nov:

Bank Nifty triggered our long trade and completed 2 targets doing 80 points and exceeded it by 80 points almost completing all long targets. Post that Nifty reversed to trigger our short trade and completed 2 targets doing 75 points 

For 17th Nov:

Sustaining above 44220 can move towards 44250 - 44290 - 44400, SL 44175

Sustaining below 44100 can move towards 44070 - 44030 - 43930, SL 44145

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 reached its last weekly long targets till 44440 - 44630 with a high of 44420.95 and closed at 44161.55

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.

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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