In the previous session :
Bank Nifty went up by 331 points then went down by 606 points before closing lower by 289 points on Tuesday.
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 15th Mar :
Bank Nifty triggered our long trade and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and came close to our 2nd target and doing 300 points.
For 16th Mar :
Sustaining above 35300 enter for 35470 - 35665 - 36195 , SL 35110
Now for this week :
On the upside :
Bank Nifty has to break and sustain above 34980 - 35250 where it has its initial resistance for a move towards next targets of 35980 - 36170 .
Sustaining or closing above 36170 Bank Nifty can move towards further targets of 36800 - 37500
On the downside :
Bank Nifty has to break and sustain below 34110 - 33850 where it has its initial support for a move towards next targets of 33110 - 32920 .
Sustaining or closing below 32920 Bank Nifty can move towards further targets of 32290 - 31600
So far this week Bank Nifty made a high of 35643.80 breaking above our initial weekly resistance
and reversed till 34706.05 before closing at 35022.65 . Now in the coming session Bank Nifty has to break and sustain above 34980 - 35250 zone to move towards its next weekly targets of 35980 - 36170. On the downside Bank Nifty has immediate support at 34600 - 34300 which it needs to hold for a bounce.
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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