Monday 22 March 2021

Bank Nifty Outlook for 23rd Mar

 In the previous session : 

Bank Nifty went down by 772 points before closing lower by 558 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




On 22nd Mar:

Bank Nifty triggered our short trade and completed all targets and more doing 600+ points. 


For 23rd Mar :

Sustaining above 33750 enter for 33835 - 33935 - 34210 , SL 33645


Sustaining below 33460 enter for 33370 - 33270 - 33000 , SL 33560



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

So far this week Bank Nifty has made a low 33389.15 and tested our 2nd support and closed just above it . Now in the coming sessions if it breaks and sustains below 33315 then we can see a move towards 32980 - 32620 too.



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.

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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. 

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