Thursday 24 February 2022

Bank Nifty Outlook for 25th Feb

 In the previous session :  


Bank Nifty went down by 2400 points  before closing lower by 2163 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 24th Feb :

Bank Nifty triggered our short trade with a big gap down below our last target and corrected further by 1250+ points. 

For 25th Feb :

Sustaining above 35570 enter for 35785 - 36025 - 36675 , SL 35335

Sustaining below 34885 enter for 34675 - 34430 - 33775 , SL 35125


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 34991.35 testing our last weekly support zone and target zone of 35140 - 34380 and closed at 35228.10 . Now in the coming session Bank Nifty has to sustain above 35140 for a move towards its immediate resistance at 35830 - 36030 . On the downside breaking and sustaining below 34380 can lead to further corrections towards 33750 - 33550 . 

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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