Is it ok to sleep with ankle support bandage due to ankle swelling ?

Yes if helpful: If an ankle support such as a brace, sleeve or ace-wrap helps reduce swelling, then yes, you can use it. If the swelling is due to an injury, then it could be very helpful. If the swelling is due to other reasons like leg swelling that tracks down to the ankle, then I think a brace will be less helpful. Do not overtighten the wrap, as this could worsen the swelling below the ankle.

Not a good idea.: Generally, I would not do it. There are specific circumstances that it would be beneficial but your explanation is to vague to recommend the practice. Try elevating your foot with pillows or elevate the foot of the bed.