In the previous session :
Bank Nifty went down by 393 points then went up by 360 points before closing higher by 300 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 Mar :
Bank Nifty initially triggered our short trade and completed 1 target and more doing 200 points and took our TSL. Post that Bank Nifty reversed to trigger our long trade and again completed 1 target and more doing 170 points.
For 29th Mar :
Sustaining above 35885 enter for 35990 - 36115 - 36445 , SL 35765
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 35725 - 35920 where it has its initial resistance for a move towards next targets of 36450 - 36600 .
Sustaining or closing above 36600 Bank Nifty can move towards further targets of 37050 - 37560
On the downside :
Bank Nifty has to sustain and close below 35090 - 34900 where it has its initial support for a move towards next targets of 34370 - 34230 .
Sustaining or closing below 34230 Bank Nifty can move towards further targets of 33770 - 33260
So far this week Bank Nifty made a low of 35016.30 testing our initial weekly support zone of 35090 - 34900 and bounced back to test its initial weekly resistance zone of 35725 - 35920 before closing at 35710.50. Now in the coming session Bank Nifty has to cross and sustain / close above its immediate resistance at 35725 - 35920 to move up further this week. On the downside Bank Nifty has its immediate weekly support at 35090 - 34900.
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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