Bank Nifty Outlook for 28th Jul

 In the previous session : 

Bank Nifty went up by 236 points then went down by 236 points before closing lower by 152 points on Tuesday.

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 Jul:

Bank Nifty initially triggered our long trade and nearly completed 1 target and took our stoploss . Post that Bank Nifty reversed to trigger our short trade and again nearly completed 1 targets indicating indecisiveness . 

For 28th Jul :

Sustaining above 34930 enter for 35010 - 35110 - 35360 , SL 34840

Sustaining below 34665 enter for 34580 - 34485 - 34230 , SL 34755

Now for this week :

Bank Nifty has immediate resistance near 35280 - 35440 and sustaining or closing above we can see a further move towards 35850 - 35970 zone

Bank Nifty has immediate support near 34790 - 34630 and sustaining or closing below that we can see a move towards 34210 - 34100 zone

So far this week Bank Nifty made a low of 34669.55 testing our initial support zone and bounced back towards 35186  and again corrected back towards 34714 . Now as long as Bank Nifty holds 34790 - 34630 we may see it recover else breaking and sustaining below 34630 it may move towards 34210 - 34100 next . 

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.