Thursday 30 September 2021

Bank Nifty Outlook for 01st Oct

 In the previous session : 

Bank Nifty went up by 142 points then went down by 389 points before closing lower by 318 points on Thursday.


Bank Nifty made a new life time high of 38377.25 in this upmove from the lows of 16116.25 made on 24th March


On 30th Sep :

Bank Nifty triggered our short trade and completed 2 targets doing 225 points 

For 01st Oct :

Sustaining above 37585 enter for 37680 - 37790 - 38090 , SL 37475

Sustaining below 37265 enter for 37170 - 37060 - 36760 , SL 37375


Now for this week :

Bank Nifty has to break and sustain above 38115 - 38290 where it has its initial resistance for a further move towards 38770 - 38890 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 37550 - 37370 where it has its initial support for a further move towards 36890 - 36770 where it has its next support for the week 

So far this week Bank Nifty made a high of 38377.25 breaking above our initial resistance zone but failed to close above it . Post that Bank Nifty corrected till 37315.20 testing our initial support zone and bounced back to close at 37945 . Now in the coming sessions Bank Nifty has to hold above 37300 for a bounce else breaking and sustaining below it we may see a move towards 36890 - 36770 . On the upside Bank Nifty has immediate resistance at 37750 - 37800 . 

Had mentioned earlier "Bank Nifty needs to give a close above 38270 for a further move towards 38980 - 39770 else we may see a dip towards 37200 - 36900 zone", and failing to give a close above 38270 so far Bank Nifty has made a low of 37315.20

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 38377.25 on 28th Sep 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 17947.65 on 23rd Sep 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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