Bank Nifty Outlook for 12th Jul

  In the previous session : 

Bank Nifty went down by 414 points before closing lower by 202 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 09th Jul:

Bank Nifty triggered our short trade and nearly completed all our targets doing 300 points 

For 12th Jul :

Sustaining above 35220 enter for 35280 - 35340 - 35560 , SL 35105

Sustaining below 34925 enter for 34860 - 34800 - 34590 , SL 35040

Now for this week :

Bank Nifty has immediate resistance near 35260 - 35375 and sustaining or closing above we can see a further move towards 35695 - 35775 zone

Bank Nifty has immediate support near 34885 - 34770 and sustaining or closing below that we can see a move towards 34450 - 34370 zone

Overall Bank Nifty has found strong support near 33900 - 34170 zone on the downside and unless it closes below this range it will attempt to recover from corrections towards these levels .

In the month of June Bank Nifty made a high of 35810.90 and made a low of  33908.95.

Now for the month of July Bank Nifty has to give a consecutive close above 35520 for a further move on the upside . On the downside Bank Nifty has to give a consecutive close below 34020 for a further 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.

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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.