Bank Nifty Outlook for 04th Mar

 In the previous session :  

Bank Nifty went up by 431 points then went down by 651 points before closing lower by 428 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 03rd Mar :

Bank Nifty initially triggered our long trade and took our stoploss . Post that Bank Nifty reversed to trigger our short trade and did 300+ points. 

For 04th Mar :

Sustaining above 35260 enter for 35450 - 35670 - 36260 , SL 35040

Sustaining below 34630 enter for 34440 - 34220 - 33630 , SL 34850

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 34721.15 breaking below our initial support zone and almost reached our next target zone of 34470 - 34215 and closed at 34944.30 . Now in the coming session Bank Nifty has immediate resistance at 35475 - 35845 on the upside which it needs to break and sustain above for a further move and immediate support at 34470 - 34215 on the downside which it needs to break and sustain below for a further move. 

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.