Bank Nifty Outlook for 14th Jun

  In the previous session : 

Bank Nifty went up by 213 points then went up by 240 points before closing lower by 84 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 11th Jun:

Bank Nifty triggered our long trade and completed 1 target and took our TSL. Post that Bank Nifty reversed to trigger our short trade and nearly completed 2 targets doing 100 points. 

 

For 14th Jun :

Sustaining above 35170 enter for 35225 - 35270 - 35450  , SL 35075

Sustaining below 34920 enter for 34870 - 34825 - 34645 , SL 35020

Now for this week :

Bank Nifty has immediate resistance near 35200 - 35380 and sustaining or closing above we can see a further move towards 35565 - 35635 zone

Bank Nifty has immediate support near 34890 - 34720 and sustaining or closing below that we can see a move towards 34530 - 34460 zone

Now unless Bank Nifty sustains or closes above 35460 - 35560 zone it will keep coming under pressure on upmoves .  . 

As long as Bank Nifty is closing above 34170 on dips we can see it bounce back. 

 

In the month of May Bank Nifty made a high of 35584.30 and made a low of  31906.55 .

Now in June Bank Nifty has to give a consecutive close above 36560 for a stronger upmove . On the downside Bank Nifty has to give a consecutive close below 34490 for a stronger correction. 

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 15606.35  on 31st May 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 6 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.