Bank Nifty Outlook for 21st Nov

 In the previous session:

Bank Nifty went up by 140 points then went down by 134 points before closing higher by 1 point on Monday

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 20th Nov:

Bank Nifty initially triggered our short trade and took our stoploss. Post that Bank Nifty triggered our long trade and again took our stoploss indicating indecisiveness

For 21st Nov:

Sustaining above 43675 can move towards 43730 - 43795 - 43965, SL 43610

Sustaining below 43495 can move towards 43440 - 43375 - 43210, SL 43560

In the Previous Week: 

Bank Nifty triggered our weekly long trade above 44010 and almost reached our last target of 44440 - 44630 with a high of 44420.95 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 43735 - 43825 to move towards its initial weekly long targets of 44080 - 44140. 

Closing above 44140 Bank Nifty may move towards its last weekly long targets of 44360 - 44600

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43435 - 43345 to move towards its initial weekly short targets of 43090 - 43025

Closing below 43025 Bank Nifty may move towards its last weekly short targets of 42810 - 42570

So far this week Bank Nifty has traded within the weekly support of 43435 - 43345 and weekly resistance of 43735 - 43825 making a low of 43450.05 and high of 43724.

Now in the coming session Bank Nifty holding above 43435 - 43345 can move towards 43735 - 43825. On the upside Bank Nifty has immediate resistance at 43735 - 43825 and has to sustain/close above it for a further upmove.

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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