Bank Nifty Outlook for 06th Sep

 In the previous session : 

Bank Nifty went up by 309 points then went down by 268 points before closing lower by 70 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

On 03rd Sep :

Bank Nifty initially triggered our long trade and completed 2 targets doing 200 points and took our TSL. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets doing 160 points indicating indecisiveness. 

For 06th Sep :

Sustaining above 36870 enter for 36935 - 37015 - 37220 , SL 36795

Sustaining below 36650 enter for 36585 - 36510 - 36305 , SL 36730

Now for this week :

Bank Nifty has immediate resistance near 36940 - 37050 and sustaining or closing above we can see a further move towards 37350 - 37425 zone

Bank Nifty has immediate support near 36585 - 36475 and sustaining or closing below that we can see a move towards 36175 - 36090 zone

In the month of August Bank Nifty made a high of 36552.80 and made a low of  34588.25

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 36552.80  doing nearly 1250 points . 

Now for the month of September Bank Nifty has to give a consecutive close above 37220 for a further move on the upside. On the downside Bank Nifty has to give a consecutive close below 35630 for a further correction

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.