Bank Nifty Outlook for 11th Feb

 In the previous session :  

Bank Nifty went down by 90 points then went up by 586 points before closing higher by 400 points on Thursday.

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 10th Feb :

Bank Nifty initially triggered our long trade and completed 2 targets and more doing 390 points . 

For 11th Feb :

Sustaining above 39200 enter for 39315 - 39450 - 39800 , SL 39070

Sustaining below 38820 enter for 38705 - 38570 - 38215 , SL 38950

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 .  

So far this week Bank Nifty made a low of 37319.5 breaking well below our next weekly short targets . Post that Bank Nifty has bounced back sharply to make a high of 39197.20 recovering 1700+ points. Now in the coming session Bank Nifty has immediate resistance at 39100 - 39300 on the upside and needs to break and sustain above this zone to move up further. On the downside Bank Nifty has immediate support at 38475 - 38285 which it needs to hold on corrections to bounce back again else breaking and sustaining below it Bank Nifty can move towards 37750 - 37615  again. 

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.