Bank Nifty Outlook for 17th Mar

 In the previous session :  

Bank Nifty went up by 783 points before closing higher by 725 points on Wednesday.

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 16th Mar :

Bank Nifty triggered our long trade with a gap up opening above our 1st target and moved up further doing 250 points. 

For 17th Mar :

Sustaining above 36040 enter for 36220 - 36430 - 36980 , SL 35840

Sustaining below 35450 enter for 35280 - 35070 - 34520 , SL 35660

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 35806.35 breaking above our initial weekly resistance

before closing today at 35748.25  . Now in the coming session Bank Nifty sustaining above 35250 can move towards its next weekly targets of 35980 - 36170.  On the downside Bank Nifty has immediate support at 34980 which it needs to hold for a bounce else it may again correct towards 34800 - 34500 .

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.