In the previous session :
Bank Nifty went up by 770 points before closing higher by 720 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 30th Aug :
Bank Nifty triggered our long trade and completed all targets and more doing 650 points.
For 31st Aug :
Sustaining above 36495 enter for 36590 - 36690 - 36975 , SL 36395
Now for this week :
Bank Nifty has immediate resistance near 35810 - 35925 and sustaining or closing above we can see a further move towards 36240 - 36320 zone
Bank Nifty has immediate support near 35445 - 35330 and sustaining or closing below that we can see a move towards 35015 - 34940 zone
So far this week Bank Nifty made a high of 36398.45 breaking above our next resistance zone and also closed above it . Now in the coming session Bank Nifty breaking and sustain above 36460 can move towards 36940 - 37110 next. On the downside breaking below 36200 we can see a move towards 36000 - 35800 where it has its 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 36398.45 so far doing nearly 1100 points . Now Bank Nifty has to hold above 36250 for a further move towards 36600 - 36900 next and failing to do so we may see it dip again .
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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