Bank Nifty Outlook for 04th Mar

 In the previous session : 

Bank Nifty went up by 1035 points before closing higher by 948 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 03rd Mar :

Bank Nifty triggered our long trade and nearly completed all our targets doing 700+ points

For 04th Mar :

Sustaining above 36710 enter for 36920 - 37160 - 37810 , SL 36475

Sustaining below 36025 enter for 35820 - 35575 - 34925 , SL 36265

Now for this week :

Bank Nifty has immediate resistance near 35560 - 35790 and sustaining or closing above we can see a further move towards 36350 - 36550 zone

Bank Nifty has immediate support near 34050 - 33820 and sustaining or closing below that we can see a move towards 33260 - 33050 zone

So far this week Bank Nifty has made a high of 36455.15 testing our next resistance zone . Now Bank Nifty needs to break and sustain above 36550 to move towards 37240 - 37980 zone . On the downside Bank Nifty has support at 35790 - 35560 zone now.

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

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.

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.