Bank Nifty Outlook for 09th Sep

 In the previous session : 

Bank Nifty went down by 75 points then went up by 387 points before closing higher by 299 points on Wednesday.

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 08th Sep :

Bank Nifty triggered our long trade and nearly completed all targets doing 280 points. 

For 09th Sep :

Sustaining above 36870 enter for 36930 - 37000 - 37190 , SL 36800

Sustaining below 36665 enter for 36605 - 36530 - 36340 , SL 36740

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

So far this week Bank Nifty has made a high of 36923.65 near our initial resistance zone and made a low of 36151.95 near our next support zone and bounced back in todays session to close above 36750  . Now in the coming session Bank Nifty has to break and sustain above 36870 to retest the highs made in this month or hold above 36660 on dips to bounce back for the same . On the downside breaking and sustaining below 36665 we may see it dip again towards 36550 - 36350 . 

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.