Bank Nifty Outlook for 26th Mar

 In the previous session : 

Bank Nifty went down by 878 points then went up by 257 points before closing lower by 287 points on Thursday.

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 25th Mar:

Bank Nifty triggered our short trade and completed all targets and more doing 700+ points. Post that Bank Nifty bounced back sharply and triggered our long trade and barely completed 1 target and took our TSL.

For 26th Mar :

Sustaining above 33165 enter for 33265 - 33375 - 33680 , SL 33055

Sustaining below 32845 enter for 32750 - 32630 - 32330 , SL 32960

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

As mentioned in the previous post "Now Bank Nifty has made a low 33203 and broken below our 2nd support zone and also closed below it . Now as long as Bank Nifty sustains below 33315 or does not sustain above 33410 we see a move towards 32980 - 32620 ." , and today sustaining below 33315 we saw Bank Nifty make a low of 32415.25 completing our targets of 32620 and exceeding it.

Now Bank Nifty has to sustain above 33410 for a move towards 33640 - 33800 and failing to do so and breaking and sustaining below 32620 we can again see a move towards 32300 - 32000.

Bank Nifty has showed some strength today towards the end but we need to see if it can do it again tomorrow.

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.