Bank Nifty Outlook for 16th Sep

 In the previous session : 

Bank Nifty went down by 117 points then went up by 336 points before closing higher by 239 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 15th Sep :

Bank Nifty initially triggered our short  trade and completed just 1 target and took our TSL. Post that Bank Nifty triggered our long trade and completed all targets doing 275 points. 

For 16th Sep :

Sustaining above 36925 enter for 36970 - 37025 - 37160 , SL 36875

Sustaining below 36780 enter for 36735 - 36680 - 36545 , SL 36830

Now for this week :

Bank Nifty has to break and sustain above 36850 - 36955 where it has its initial resistance for a further move towards 37245 - 37315 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 36515 - 36410 where it has its initial support for a further move towards 36125 - 36050 where it has its next support for the week 

So far this week Bank Nifty made a low of 36327.05 breaking below its initial support and bounced back towards 36949.70 testing our initial weekly resistance . Now in the coming session Bank Nifty needs to sustain above 36850 - 36955 for a further move on the upside towards 37245 - 37315 else we may see it again correct from its resistance 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.