Bank Nifty Outlook for 18th Feb

 In the previous session :  

Bank Nifty went up by 170 points then went down by 528 points before closing lower by 422 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 17th Feb :

Bank Nifty triggered our short trade and completed just 1 target doing 200 points . 

For 18th Feb :

Sustaining above 37830 enter for 38015 - 38230 - 38800 , SL 37625

Sustaining below 37230 enter for 37050 - 36830 - 36270 , SL 37440

Now for this week :

Bank Nifty has to break and sustain above 38850 - 39050 where it has its initial resistance for a  move towards next targets of 39600 - 39750 . Sustaining or closing above 39750 Bank Nifty can move towards further targets of 40220 - 40750. 

Bank Nifty has to break and sustain below 38190 - 37990 where it has its initial support for a move towards next targets of 37440 - 37290 . Sustaining or closing below 37290 Bank Nifty can move towards further targets of 36820 - 36300 .  

So far this week Bank Nifty has made a low of 36651.85 testing our third target zone of 36820 - 36300 almost completing all targets on the short side . Post that Bank Nifty reversed sharply to make a high of 38461.7 nearly recovering 1800 pts . Now in the coming session Bank Nifty has immediate resistance at 38000 - 38200 and need to sustain above it for a further move towards 38500 - 38800 . On the downside Bank Nifty has immediate support at 37440 - 37290 which it needs to hold for a bounce else breaking and sustaining below 37290 it can correct further towards 36820 - 36300 . 

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.