Bank Nifty Outlook for 26th Apr

 In the previous session : 

Bank Nifty went up by 365 points then went down by 405 points before closing lower by 60 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 23rd Apr:

Bank Nifty initially triggered our short trade at opening and took our SL. Post that it reversed to trigger our long trade but did not complete any target and again took our SL. Post that Bank Nifty traded between our long and short trigger zone indicating indecisiveness . We can expect this indecisiveness to be broken in the coming session.

For 26th Apr :

Sustaining above 32100 enter for 32240 - 32380 - 32920 , SL 31810

Sustaining below 31350 enter for 31200 - 31060 - 30530 , SL 31635

Now for this week :

Bank Nifty has immediate resistance near 32185 - 32475 and sustaining or closing above we can see a further move towards 33260 - 33460 zone

Bank Nifty has immediate support near 31260 - 30970 and sustaining or closing below that we can see a move towards 30180 - 29980 zone

Now as long as Bank Nifty is holding above 30350 - 30180 on dips we can it continue to bounce back. On sustaining below 30000 we can further correction towards 29500 levels.

In the month of April , Bank Nifty  has broken the low of 32415.25 made in March by nearly 2000 points with a new low of 30405.65 after the bounce of 1800 points till 32325.15 we saw from the earlier low of 30520.30  .

Overall Bank Nifty needs to give a strong or consecutive close above 35140 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.