Bank Nifty Outlook for 13th Apr

 In the previous session : 

Bank Nifty went down by 1927 points before closing lower by 1656 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 12th Apr:

Bank Nifty triggered our short trade and exceeded all daily targets as it broke our weekly supports doing 1100+ points. 

For 13th Apr :

Sustaining above 31060 enter for 31220 - 31410 - 31910 , SL 30875

Sustaining below 30525 enter for 30365 - 30175 - 29675 , SL 30710

Now for this week :

Bank Nifty has immediate resistance near 32790 - 33000 and sustaining or closing above we can see a further move towards 33585 - 33730 zone

Bank Nifty has immediate support near 32110 - 31890 and sustaining or closing below that we can see a move towards 31300 - 31165 zone

So far this week Bank Nifty has made a low of 30520.30 breaking below both support zones. Now in sustaining below 30525 we can see a further move till 30175 - 29675.

Holding above 30525 we can see a bounce towards 30955 - 31165 where it has its immediate resistance now and it till 31300 - 31450 .

In the month of April , Bank Nifty  has broken the low of 32415.25 made in March by nearly 1900 points with a low of 30520.30

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.

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.