Bank Nifty Outlook for 18th Jan

 In the previous session : 

Bank Nifty went up by 25 points then went down by 475 points before closing lower by 273 points on Friday

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 15th Jan :

Bank Nifty triggered our short trade and completed all targets and more doing 400 points. 

For 18th Jan :

Sustaining above 32335 enter for 32385 - 32450 - 32610 , SL 32270

Sustaining below 32160 enter for 32110 - 32045 - 31885 , SL 32220

Now for this week :

Bank Nifty has immediate resistance near 32390 - 32475 and sustaining or closing above we can see a further move towards 32715 - 32775 zone

Bank Nifty has immediate support near 32105 - 32020 and sustaining or closing below that we can see a move towards 31780 - 31720 zone

Those who are buying the dips should keep a cbsl of 31680 for their long positions

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.