Bank Nifty Outlook for 15th Jan

 In the previous session : 

Bank Nifty went up by 145 points then went down by 132 points before closing lower by 55 points on Thursday

Bank Nifty made a new life time high of 32718.95 in this upmove from the lows of 16116.25 made on 24th March

On 14th Jan :

Bank Nifty initially triggered our long trade and completed just 1 target . Post that Bank Nifty reversed to trigger our short trade and again completed just 1 target . Bank Nifty traded in a narrow range and indicated indecisiveness

For 15th Jan :

Sustaining above 32590 enter for 32635 - 32690 - 32825 , SL 32540

Sustaining below 32450 enter for 32405 - 32350 - 32215 , SL 32500

Now for this week :

Bank Nifty has immediate resistance near 32210 - 32290 and above it next resistance near 32500 - 32555 zone

Bank Nifty has immediate support near 31960 - 31880 and below that next support near 31660 - 31610 zone

So far this week Bank Nifty has made a high of 32718.95 completing the next weekly targets. Now it has to sustaining above 32555 for a further move towards 32740 - 32940. 

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

Bank Nifty has now made a high of 32718.95 on 14th Jan 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 14653.35  on 13th Jan 2021 from the lows of 7511 made on 24th March 2020.

How to use these levels 

• Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 

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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.