In the previous session :
Bank Nifty went down by 215 points then went up 207 points before closing higher by 165 points on Tuesday.
Bank Nifty made a new life time high of 38377.25 in this upmove from the lows of 16116.25 made on 24th March
On 05th Oct :
Bank Nifty initially triggered our short trade and took our SL. Post that Bank Nifty triggered our long trade but did not complete any target indicating indecisiveness.
For 06th Oct :
Sustaining above 37875 enter for 37960 - 38055 - 38315 , SL 37780
Now for this week :
Bank Nifty has to break and sustain above 37445 - 37585 where it has its initial resistance for a further move towards 37955 - 38055 where it has its next resistance for the week
Bank Nifty has to break and sustain below 37000 - 36870 where it has its initial support for a further move towards 36495 - 36400 where it has its next support for the week
So far this week Bank Nifty made a high of 37786.60 breaking well above our initial resistance zone and also closed well above it . Now in the coming session Bank Nifty has to hold above 37585 on dips for a bounce while sustaining above 37585 we may see a move towards 37955 - 38055 . Also breaking and sustaining / closing above 38055 it can move up further towards 38370 - 38700 . Breaking and sustaining below 37420 we may see it correct towards 37300 - 37150 .
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 38377.25 on 28th 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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