In the previous session :
Bank Nifty went up by 444 points then went down by 143 points before closing higher by 143 points on Friday.
Bank Nifty made a new life time high of 38112.75 in this upmove from the lows of 16116.25 made on 24th March
On 17th Sep :
Bank Nifty triggered our long trade with a gap up near our 2nd tgt and did not give a good entry . Post that Bank Nifty reversed to trigger our short trade and did 2 targets doing 150 points.
For 20th Sep :
Sustaining above 37790 enter for 37860 - 37950 - 38175 , SL 37705
Now for this week :
Bank Nifty has to break and sustain above 38010 - 38130 where it has its initial resistance for a further move towards 38460 - 38540 where it has its next resistance for the week
Bank Nifty has to break and sustain below 37620 - 37500 where it has its initial support for a further move towards 37170 - 37080 where it has its next support for the week
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 has now given a consecutive close above 37220 and also made a new lifetime high of 38112.75 which is within the initial target zone of 38050 - 38270. Now it needs to give a close above 38270 for a further move towards 38980 - 39770 else we may see a dip towards 37200 - 36900 zone.
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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