Bank Nifty Trade Plan for 15 NOV 2021

Bank Nifty Trade Plan for 15 NOV 2021

Bank Nifty traded in a very tight range in the previous session and formed a inside day bar on the daily time frame waiting to explode.

In case Bank Nifty opens gap up above 18831 and sustains then we can expect BN to test 38900 levels as first target.

In case 38930 is taken out we can expect BN to test 39047/39100 levels.

If weekly resistance of 39125 is taken out we can also expect next resistance around 39400 which is unlikely to test on same day.

In case BN finds resistance around 38831 levels we can expect BN to test previous session closing price & CPR which will be our shorting targets.

38636 is a strong support for Bank Nifty, if that supports holds good & BN trades above CPR we can again look for possible long opportunity with first target of 38831.

In case if CPR is compromised then we can look for shorting opportunity with possible target of 38500.