Bank Nifty Outlook for 02nd Mar

 In the previous session :  

Bank Nifty went down by 819 points before closing lower by 225 points on Monday.

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 28th Feb :

Bank Nifty triggered our short trade with a big gap down and fell further by 325 points almost completing our 2nd target . 

For 02nd Mar :

Sustaining above 36520 enter for 36715 - 36935 - 37535 , SL 36300

Sustaining below 35890 enter for 35700 - 35475 - 34875 , SL 36110

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 .  

So far this week Bank Nifty made a low of 35611.90 testing our initial support zone and bounced back to close at 36205.30 . Now in the coming session Bank Nifty has to hold above 35475 on dips to expect a bounce back else breaking and sustaining below it we may see a move towards the next targets. On the upside Bank Nifty has immediate resistance near 37020 - 37390 which it needs to clear for a further move incase of a gap up opening. 

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.