Tuesday 12 October 2021

Bank Nifty Outlook for 13th Oct

  In the previous session : 

Bank Nifty went down by 149 points then went up by 315 points before closing higher by 227 points on Tuesday.


Bank Nifty made a new life time high of 38609.60 in this upmove from the lows of 16116.25 made on 24th March


On 12th Oct :

Bank Nifty initially triggered our short trade and took our stoploss . Post that Bank Nifty reversed to trigger our long trade and completed 2 targets and more doing 200 points  

For 13th Oct :

Sustaining above 38630 enter for 38690 - 38765 - 38965 , SL 38550

Sustaining below 38415 enter for 38355 - 38275 - 38080 , SL 38490


Now for this week :

Bank Nifty has to break and sustain above 37920 - 38010 where it has its initial resistance for a further move towards 38255 - 38315 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 37630 - 37540 where it has its initial support for a further move towards 37300 - 37230 where it has its next support for the week 

So far this week Bank Nifty made a new life time high of 38609.60 testing our final weekly target range of 38525 - 38750 . Now in the coming session Bank Nifty has to hold above 38270 - 38080 on dips for a bounce else breaking below it we may see it correct further towards 37900 - 37700. Bank Nifty has to sustain above 38750 for a further move towards 38965 - 39100 on the upside . 


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 38609.60 on 12th Oct 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18041.95 on 11th Oct 2021 from the lows of 7511 made on 24th March 2020.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              


To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.


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.    

No comments:

Post a Comment