In the previous session :
Bank Nifty went up by 268 points then went down by 447 points before closing lower by 220 points on Friday.
Bank Nifty made a new life time high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March
On 04th Feb :
Bank Nifty initially triggered our long trade and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and almost completed 2 targets doing 250 points.
For 07th Feb :
Sustaining above 38980 enter for 39100 - 39235 - 39600 , SL 38850
Now for this week :
Bank Nifty has to break and sustain above 39100 - 39300 where it has its initial resistance for a move towards next targets of 39830 - 39970 . Sustaining or closing above 39970 Bank Nifty can move towards further targets of 40425 - 40930.
Bank Nifty has to break and sustain below 38475 - 38285 where it has its initial support for a move towards next targets of 37750 - 37615 . Sustaining or closing below 37615 Bank Nifty can move towards further targets of 37155 - 36650 .
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 41829.60 on 25th Oct 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18604.45 on 19th Oct 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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