Sunday 27 February 2022

Bank Nifty Outlook for 28th Feb

 In the previous session :  


Bank Nifty went up by 1456 points  before closing higher by 1202 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 25th Feb :

Bank Nifty triggered our long trade with a big gap up near our 2nd target and went up further by 780 points completing all targets for the day. 

For 28th Feb :

Sustaining above 36790 enter for 37015 - 37270 - 37955 , SL 36540

Sustaining below 36070 enter for 35850 - 35590 - 34900 , SL 36320


Now for this week :

Bank Nifty has to break and sustain above 37020 - 37390 where it has its initial resistance for a  move towards next targets of 38390 - 38650 . Sustaining or closing above 38650 Bank Nifty can move towards further targets of 39500 - 40460. 

Bank Nifty has to break and sustain below 35845 - 35475 where it has its initial support for a move towards next targets of 34470 - 34215 . Sustaining or closing below 34215 Bank Nifty can move towards further targets of 33350 - 32400 .  


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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