In the previous session:
Bank Nifty went down by 29 points then went up by 191 points before closing higher by 112 points on Tuesday
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 28th Nov:
Bank Nifty triggered our long trade and completed just 1 target doing 60 points
For 29th Nov:
Sustaining above 43975 can move towards 44035 - 44105 - 44285, SL 43910
In the Previous Week:
Bank Nifty traded sideways and did not confirm a long or short trade as per weekly levels
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 43925 - 44020 to move towards its initial weekly long targets of 44285 - 44355.
Closing above 44355 Bank Nifty may move towards its last weekly long targets of 44580 - 44830
On the downside:
Bank Nifty has to sustain and close below its weekly support at 43615 - 43515 to move towards its initial weekly short targets of 43250 - 43185
Closing below 43185 Bank Nifty may move towards its last weekly short targets of 42960 - 42710.
So far this week Bank Nifty has made a high of 43960.30 testing our resistance zone of 43925 - 44020 and closed at 43880.95
Now in the coming sessions Bank Nifty has to break and sustain above 44020 to move towards 44285 - 44355. On the downside Bank Nifty breaking below 43785 has immediate support at 43615 - 43515 from where we may see it bounce.
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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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