Monday 2 August 2021

Bank Nifty Outlook for 03rd Aug

 In the previous session : 

Bank Nifty went up by 277 points before closing higher by 125 points on Monday.


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 02nd Aug:

Bank Nifty triggered our long trade and completed just 1 target and took our trailing stoploss 

For 03rd Aug :

Sustaining above 34825 enter for 34890 - 34970 - 35185 , SL 34745

Sustaining below 34595 enter for 34525 - 34450 - 34235 , SL 34675


Now for this week :

Bank Nifty has immediate resistance near 34800 - 34930 and sustaining or closing above we can see a further move towards 35295 - 35390 zone

Bank Nifty has immediate support near 34370 - 34230 and sustaining or closing below that we can see a move towards 33875 - 33780 zone

So far this week Bank Nifty made a high of 34861.75 testing our initial resistance zone and corrected a bit to close well below it . Now Bank Nifty has to break above 34800 - 34930 for a further move towards 35295 - 35390 .

In the month of July Bank Nifty made a high of 35985.25 and made a low of  34115.20.

Now for the month of August Bank Nifty has to give a consecutive close above 35300 for a further move on the upside . On the downside Bank Nifty has to give a consecutive close below 33870 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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