In the previous session :
Bank Nifty went up by 665 points before closing higher by 538 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 25th Jun:
Bank Nifty triggered our long trade and completed all targets and more doing 500+ points
For 27th Jun :
Sustaining above 35515 enter for 35575 - 35630 - 35850 , SL 35400
Now for this week :
Bank Nifty has immediate resistance near 35550 - 35670 and sustaining or closing above we can see a further move towards 35990 - 36070 zone
Bank Nifty has immediate support near 35180 - 35060 and sustaining or closing below that we can see a move towards 34740 - 34660 zone
Bank Nifty has support near 33900 - 34170 zone and if holds these levels on dips then we can see a bounce .
Had mentioned previously "On the upside Bank Nifty had to close strongly above 34890 to give a indication of moving up towards initially 35460 - 35450 and so far it has been unable to sustain or close above 34890 .", and on Friday we saw Bank Nifty sustain above 34890 and make a high of 35491.95 completing the move expected above 34890.
Now unless Bank Nifty sustains or closes above 35550 - 35670 zone it will keep coming under pressure on upmoves and if manages to sustain then we can see a move towards 35990 - 36070.
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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