In the previous session :
Bank Nifty went up by 868 points before closing higher by 816 points on Thursday.
Bank Nifty made a new life time high of 37720.15 in this upmove from the lows of 16116.25 made on 24th March
On 16th Sep :
Bank Nifty triggered our long trade and completed all targets and more doing 790 points.
For 17th Sep :
Sustaining above 37790 enter for 37860 - 37950 - 38175 , SL 37705
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 37720.15 breaking above our next weekly resistance and also went way above it towards the last weekly targets of 37565 - 37835 . Now in the coming session Bank Nifty needs to sustain above 37245 on dips for a further move on the upside towards 38050 - 38265 .
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 .
Had mentioned at the start of the month "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", and today Bank Nifty gave a close above 37220 and has to now give a consecutive close above it to confirm monthly longs.
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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