In the previous session :
Bank Nifty went up by 525 points before closing higher by 341 points on Monday.
Bank Nifty made a new life time high of 38355.20 in this upmove from the lows of 16116.25 made on 24th March
On 27th Sep :
Bank Nifty triggered our long trade and completed 2 targets doing 300 points.
For 28th Sep :
Sustaining above 38350 enter for 38450 - 38580 - 38900 , SL 38225
Now for this week :
Bank Nifty has to break and sustain above 38115 - 38290 where it has its initial resistance for a further move towards 38770 - 38890 where it has its next resistance for the week
Bank Nifty has to break and sustain below 37550 - 37370 where it has its initial support for a further move towards 36890 - 36770 where it has its next support for the week
So far this week Bank Nifty made a high of 38355.20 breaking above our initial resistance zone and also closed within it. Now in the coming sessions Bank Nifty has to sustain/close above 38290 for the further move towards 38770 - 38890 . On the downside Bank Nifty has initial support at 37750 - 37550 on dips .
In the month of August Bank Nifty made a high of 36552.80 after confirming our monthly long trade with a consecutive close above 35300 doing 1250 points
As 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.
Bank Nifty 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 38355.20 on 27th Sep 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 17947.65 on 23rd Sep 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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