Bank Nifty Outlook for 27th Jan

 In the previous session : 

Bank Nifty went up by 530 points then went down by 153 points before closing higher by 31 points on Monday

Bank Nifty made a new life time high of 32842.30 in this upmove from the lows of 16116.25 made on 24th March

On 25th Jan :

Bank Nifty triggered our long trade with a gap up near our 2nd target and did not give a chance to trade.  

For 27th Jan :

Sustaining above 31365 enter for 31465 - 31580 - 31890 , SL 31250

Sustaining below 31035 enter for 30935 - 30815 - 30505 , SL 31150

Now for this week :

Bank Nifty has immediate resistance near 31450 - 31625 and sustaining or closing above we can see a further move towards 32105 - 32225 zone

Bank Nifty has immediate support near 30885 - 30710 and sustaining or closing below that we can see a move towards 30230 - 30105 zone

 So far this week Bank Nifty has made a high of 31697.55 breaking above our immediate resistance but failed to sustain. Now in the coming session it needs to sustain above 30710 to make another attempt to move up else we can see a correction towards 30230 - 30105 zone.

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 32842.30 on 21st Jan 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 14753.55  on 21st 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.