Bank Nifty Outlook for 24th Feb

 In the previous session :  

Bank Nifty went up by 403 points then went down by 53 points before closing higher by 20 points on Wednesday.

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 23rd Feb :

Bank Nifty initially triggered our long trade but did not complete any target and took our stoploss. 

For 24th Feb :

Sustaining above 37660 enter for 37825 - 38015 - 38520 , SL 37475

Sustaining below 37125 enter for 36960 - 36770 - 36260 , SL 37310

Now for this week :

Bank Nifty has to break and sustain above 38070 - 38360 where it has its initial resistance for a  move towards next targets of 39160 - 39370 . Sustaining or closing above 39370 Bank Nifty can move towards further targets of 40060 - 40820. 

Bank Nifty has to break and sustain below 37130 - 36830 where it has its initial support for a move towards next targets of 36030 - 35830 . Sustaining or closing below 35830 Bank Nifty can move towards further targets of 35140 - 34380 .  

So far this week Bank Nifty made a low of 36818.10 testing our initial weekly support zone of 37130 - 36830 and bounced back till 37774.60 before closing at 37392.05 today . Now in the coming session Bank Nifty has to break and sustain above 37700 for a move towards 38070 - 38360 . On the downside Bank Nifty has immediate support at 37130 - 36830 which it needs to hold in dips else we may see a further correction towards the next weekly supports. 

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.