In the previous session:
Bank Nifty went up by 3 points then went down by 458 points before closing lower by 239 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 22nd Nov:
Bank Nifty triggered our short trade and completed 2 targets doing 115 points
For 23rd Nov:
Sustaining above 43545 can move towards 43600 - 43670 - 43850, SL 43480
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 now made a low of 43230.95 breaking below its weekly support of 43435 - 43345 and bounced back to close just above it at 43449.60.
Now in the coming session Bank Nifty has to break and sustain / close below 43345 for a move towards 43090 - 43025. On the upside Bank Nifty sustaining above 43545 has immediate resistance at 43735 - 43825.
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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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