Bank Nifty Outlook for 09th Mar

 In the previous session : 

Bank Nifty went up by 599 points then went down by 137 point before closing higher by 47 points on Monday.

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

For 09th Mar :

Sustaining above 35600 enter for 35800 - 36030 - 36650 , SL 35375

Sustaining below 34950 enter for 34750 - 34520 - 33900 , SL 35175

Now for this week :

Bank Nifty has immediate resistance near 35760 - 36090 and sustaining or closing above we can see a further move towards 36995 - 37225 zone

Bank Nifty has immediate support near 34700 - 34370 and sustaining or closing below that we can see a move towards 33460 - 33230 zone

Bank Nifty needs to hold above 35560 - 35790 zone to rise again towards 36350 - 36550 and failing to do so and sustaining below 35560 we can see it slide towards 35000 - 34750 zone.

Overall 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.