Bank Nifty Outlook for 18th Aug

 In the previous session : 

Bank Nifty went down by 482 points before closing lower by 227 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 17th Aug :

Bank Nifty triggered our short trade and completed all targets doing 365+ points . 

For 18th Aug :

Sustaining above 35935 enter for 35975 - 36020 - 36145 , SL 35885

Sustaining below 35800 enter for 35760 - 35715 - 35590 , SL 35850

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

So far this week Bank Nifty made a low of 35611.85 nearly testing our next support zone. As long as Bank Nifty sustains below 35845 we may see it move towards 35500 - 35415 where it has next immediate support

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.