Bank Nifty Outlook for 29th Jul

 In the previous session : 

Bank Nifty went up by 44 points then went down by 682 points before closing lower by 264 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 28th Jul:

Bank Nifty triggered our short trade and completed all targets and more doing 550 points . 

For 29th Jul :

Sustaining above 34670 enter for 34750 - 34850 - 35100 , SL 34575

Sustaining below 34400 enter for 34320 - 34220 - 33970 , SL 34495

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 34115.20 testing our next support zone and bounced back to close above 34500 levels . This was the lowest level on Bank Nifty for this month. Now Bank Nifty has immediate resistance at 34630 - 34790 and it needs to break and sustain above it for a further move towards 35000. On the downside breaking and sustaining below 34100 we can see a move towards 33750 - 33350 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.

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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.