Bank Nifty Outlook for 06th Apr

 In the previous session : 

Bank Nifty went down by 1528 points before closing lower by 1180 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 05th Apr:

Bank Nifty triggered our short trade and completed all targets and more doing 1300+ points .

For 06th Apr :

Sustaining above 32920 enter for 33065 - 33235 - 33690 , SL 32750

Sustaining below 32440 enter for 32290 - 32120 - 31670 , SL 32605

Now for this week :

Bank Nifty has immediate resistance near 34200 - 34410 and sustaining or closing above we can see a further move towards 34990 - 35140 zone

Bank Nifty has immediate support near 33510 - 33300 and sustaining or closing below that we can see a move towards 32700 - 32575 zone

So far this week Bank Nifty has made a low of 32330.15 breaking below both our weekly supports and closing just within the next support indicating a bigger weakness than Nifty . 

Now Bank Nifty has immediate resistance neat 33300 - 33510 on sustaining above 32700 . Breaking and sustaining again below 32575 we can see it correct towards 32070 - 31520 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.

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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.