Bank Nifty Outlook for 16th Aug

 In the previous session : 

Bank Nifty went up by 296 points before closing higher by 232 points on Friday.

Bank Nifty made a new life time high of 37708.75 in this upmove from the lows of 16116.25 made on 24th March

For 16th Aug :

Sustaining above 36295 enter for 36370 - 36455 - 36690 , SL 36205

Sustaining below 36045 enter for 35970 - 35885 - 35650 , SL 36135

Now for this week :

Bank Nifty has immediate resistance near 36370 - 36495 and sustaining or closing above we can see a further move towards 36835 - 36925 zone

Bank Nifty has immediate support near 35970 - 35845 and sustaining or closing below that we can see a move towards 35500 - 35415 zone

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

As mentioned at the start of the month " 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." , and Bank Nifty has made a high of 36317 so far doing 1000 points . Now Bank Nifty has to give a close above 36250 for a further move towards 36600 -  36900 next 

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 16349.45 on 06th Aug 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.