Bank Nifty Outlook for 22nd Mar

 In the previous session :  

Bank Nifty went up by 171 points then went down by 528 points before closing lower by 410 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 21st Mar :

Bank Nifty triggered our short trade and completed 1 target and more doing 230+ points.

For 22nd Mar :

Sustaining above 36190 enter for 36290 - 36410 - 36730 , SL 36070

Sustaining below 35850 enter for 35750 - 35620 - 35300 , SL 35970

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 36900 - 37200 where it has its initial resistance for a  move towards next targets of 38000 - 38200 . 

Sustaining or closing above 38200 Bank Nifty can move towards further targets of 38900 - 39670

On the downside :

Bank Nifty has to sustain and close below 35950 - 35650 where it has its initial support for a move towards next targets of 34850 - 34650 . 

Sustaining or closing below 34650 Bank Nifty can move towards further targets of 33950 - 33190

So far this week Bank Nifty made a low of 35900.20 testing our initial weekly support zone and closed slightly above it . Now in the coming session Bank Nifty has to hold its support at 35950 - 35650 to expect a bounce . On the upside Bank Nifty has immediate resistance at 36600 - 36700 which it needs to break for a move towards the initial weekly targets.

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.