Bank Nifty Outlook for 21st Mar

 In the previous session : 

Bank Nifty went down by 495 points then went up by 498 points before closing lower by 305 points on Friday.

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 19th Mar:

Bank Nifty opened with a gap down below our 1st short target and nearly completed all targets doing 200 points. Post that Bank Nifty reversed to trigger our long trade and completed and nearly completed all long targets doing 350+ points

For 21st Mar :

Sustaining above 34300 enter for 34385 - 34485 - 34745 , SL 34205

Sustaining below 34025 enter for 33940 - 33840 - 33580 , SL 34120

Now for this week :

Bank Nifty has immediate resistance near 34525 - 34640 and sustaining or closing above we can see a further move towards 34910 - 35010 zone

Bank Nifty has immediate support near 33800 - 33685 and sustaining or closing below that we can see a move towards 33410 - 33315 zone

Now Bank Nifty has to hold 33500 on closing for a bounce to come towards 34315 - 34450 initially and above it towards 34985 - 35185

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.