Weekly Spot Outlook of Bank Nifty for 07th to 10th Apr

In the previous week : 

Bank Nifty went down by 2826 points before finally ending the week lower by 2720 points compared to its last weekly closing. 

Bank Nifty triggered our short trade as per levels given last week and did 1900 points.

Bank Nifty had made a life time high of 32613.10 on 30th December and has been trading sideways to negative since then .

Bank Nifty for this week :

• Sustaining above 18055 enter for 18550 - 18955 - 19355 

• Further sustaining above 19930 enter for 20275 - 21465 - 22765

• Sustaining below 16445 enter for 15945 - 15545 - 15145

• Further sustaining below 14570 enter for 14220 - 13035 - 11735

How to use these levels  

• For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets

For this month :

• Bank Nifty longs will get confirmed with a consecutive close above 22080 for a initial target of 23870 - 24520 and sustaining / closing above 24520 we can see a further move till 25160 - 25940 .  

• Bank Nifty shorts will get confirmed with a consecutive close below 16200 for  a initial target of 14415 - 13770 and sustaining / closing below 13770 we can see a further move till 13130 - 12350.

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Disclaimer : These are my personal views and one should do their own research 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 decisions.