Bank Nifty Outlook for 29th Jun

 In the previous session : 

Bank Nifty went up by 212 points then went down by 128 points before closing lower by 5 points on Monday.

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 27th Jun:

Bank Nifty triggered our long trade and completed just 1 targets and took our TSL. Post that Bank Nifty traded the entire session between our long and short trigger zone . We can expect a stronger move in the coming session. 

For 28th Jun :

Sustaining above 35500 enter for 35560 - 35615 - 35820 , SL 35395

Sustaining below 35215 enter for 35160 - 35105 - 34900 , SL 35325

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

So far this week Bank Nifty made a high of 35576.95 testing our initial weekly resistance zone and corrected by 300 points . Now as long as Bank Nifty is holding above 35060 - 35180 on correction we may see it attempt to break above the initial weekly resistance zone. 

Overall Bank Nifty has support near 33900 - 34170 zone and if holds these levels on dips then we can see a bounce .

Also as mentioned in the previous post too "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. " , so we need to see if Bank Nifty breaks above 35550 - 35670 zone and sustains to make a move towards 36000 levels .

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.