Bank Nifty Outlook for 01st Apr

 In the previous session : 

Bank Nifty went down by 723 points before closing lower by 570 points on Wednesday.

Bank Nifty made a new life time high of 37708.75 in this upmove from the lows of 16116.25 made on 24th March

On 31st Mar:

Bank Nifty triggered our short trade and nearly completed all targets doing 500+ points .

For 01st Apr :

Sustaining above 33500 enter for 33620 - 33760 - 34130 , SL 33365

Sustaining below 33100 enter for 32990 - 32850 - 32480 , SL 33245

Now for this week :

Bank Nifty has immediate resistance near 33605 - 33780 and sustaining or closing above we can see a further move towards 34270 - 34390 zone

Bank Nifty has immediate support near 33030 - 32855 and sustaining or closing below that we can see a move towards 32370 - 32245 zone

So far this week Bank Nifty made a high of 33990.80 breaking above our initial resistance zone and also closed above it . Post that we saw Bank Nifty make a low of 33151.80 coming close to testing our initial support zone of 32855 - 33030 . 

Now as long as Bank Nifty sustains above 33030 we can see a move again towards 33605 - 33780 and on sustaining above 33780 a further move towards 34270 - 34390 .

Now on the downside immediate support is at 32855 - 33030 and if Bank Nifty breaks and sustains below it then we can see a further move towards 32245 - 32370 . 

Overall Bank Nifty needs to give a strong or consecutive close above 36840 to regain strength .

So far Bank Nifty has made a high of 36497.35 this month.

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 37708.75 on 16th Feb 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 15431.75  on 16th Feb 2021 from the lows of 7511 made on 24th March 2020.

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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.