Bank Nifty Outlook for 29th Apr

 In the previous session : 

Bank Nifty went up by 1042 points before closing higher by 987 points on Wednesday.

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 28th Apr:

Bank Nifty triggered our long trade and completed all targets and more doing 840 points .

For 29th Apr :

Sustaining above 33975 enter for 34050 - 34190 - 34570 , SL 33785

Sustaining below 33520 enter for 33400 - 33250 - 32870 , SL 33660

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

This week Bank Nifty has made a high of 33777.70 breaking above our next resistance zone and closed well above it  .

Now as long as Bank Nifty is holding above 33250 on dips or sustains above 33975 we can see a further move towards 34150 - 34570 zone . The strength in this upmove of Bank Nifty will be put to test tomorrow.

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.