In the previous session :
Bank Nifty went up by 182 points then went down by 696 points before closing lower by 47 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 18th Jun:
Bank Nifty initially triggered our short trade and completed just 1 target and took our trailing stoploss . Post that Bank Nifty triggered our short trade and completed all targets and more doing 550 points.
For 21st Jun :
Sustaining above 34680 enter for 34730 - 34780 - 34960 , SL 34580
Now for this week :
Bank Nifty has immediate resistance near 34715 - 34885 and sustaining or closing above we can see a further move towards 35070 - 35140 zone
Bank Nifty has immediate support near 34405 - 34235 and sustaining or closing below that we can see a move towards 34050 - 33980 zone
Now Bank Nifty has to close above 34170 on further corrections to make an attempt back to this months highs else closing below it we can see the correction extend towards 33400 - 33120 .
On the upside Bank Nifty has to close strongly above 34890 to give a indication of moving up towards initially 35460 - 35450 .
Now unless Bank Nifty sustains or closes above 35460 - 35560 zone it will keep coming under pressure on upmoves . .
In the month of May Bank Nifty made a high of 35584.30 and made a low of 31906.55 .
Had mentioned at the start of June series " 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." , So far Bank Nifty has made a high of 35810.90 and a low of 33908.95 but failed to close beyond the trading range of 34490 - 36560 for a bigger move .
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.
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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.
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