Thursday 15 July 2021

Bank Nifty Outlook for 16th Jul

  In the previous session : 

Bank Nifty went down by 42 points then went up by 317 points before closing higher by 240 points on Thursday.


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 15th Jul:

Bank Nifty triggered our long trade and completed 2 targets and more doing 170 points 

For 16th Jul :

Sustaining above 36025 enter for 36095 - 36175 - 36395 , SL 35945

Sustaining below 35795 enter for 35725 - 35640 - 35425 , SL 35875


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 35985.25 breaking and sustaining above 35825 as mentioned in the previous post and as long as it holds above it we can see a move towards 36050 - 36350 which are our last targets for this week .

Now Bank Nifty after holding its strong support near 33900 - 34170 zone has made a high of 35985 giving a 2000 points move in last 19 sessions . 

Bank Nifty has its immediate resistance in the zone of 36075 - 36175 in the coming session and it needs to close strongly above it for a further move .

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.   

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