Bank Nifty Outlook for 15th Jul

 In the previous session : 

Bank Nifty went down by 239 points then went up by 130 points before closing lower by 5 points on Wednesday.

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 14th Jul:

Bank Nifty triggered our short trade and completed just 1 target and more doing 70 points and took our TSL. Post that Bank Nifty traded sideways between our long and short trigger zone indicating indecisiveness.

For 15th Jul :

Sustaining above 35815 enter for 35875 - 35930 - 36145 , SL 35705

Sustaining below 35520 enter for 35460 - 35405 - 35190 , SL 35635

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

So far this week Bank Nifty has made a high of 35804.05 breaking above our next resistance zone and closed just below it for the 2nd day . 

Now Bank Nifty has to break and sustain above 35825 to move towards 36050 - 36350 while holding above 35520. 

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.