Tuesday 24 August 2021

Bank Nifty Outlook for 25th Aug

 In the previous session : 

Bank Nifty went down by 54 points then went up by 670 points before closing higher by 588 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 24th Aug :

Bank Nifty triggered our long trade and completed all targets and more doing 580 points. 

For 25th Aug :

Sustaining above 35835 enter for 35910 - 35995 - 36225 , SL 35750

Sustaining below 35590 enter for 35515 - 35430 - 35200 , SL 35675


Now for this week :

Bank Nifty has immediate resistance near 35185 - 35275 and sustaining or closing above we can see a further move towards 35530 - 35595 zone

Bank Nifty has immediate support near 34885 - 34790 and sustaining or closing below that we can see a move towards 34535 - 34470 zone

So far this week Bank Nifty made a high of 35795.30 breaking above our next resistance zone and also closed well above it . Now in the coming session sustaining above 35595 on dips we can see Bank Nifty move towards 35815 - 36055 next . 

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 . Post that Bankk Nifty had to give a close above 36250 for a further move towards 36600 -  36900 next and failing to do so we saw it dip till 34926.50.


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. 

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