In the previous session :
Bank Nifty went up by 266 points then went down by 204 points before closing higher by 136 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 29th Mar :
Bank Nifty initially triggered our long trade and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and again took our stoploss indicating indecisiveness.
For 30th Mar :
Sustaining above 36015 enter for 36120 - 36240 - 36560 , SL 35900
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 make a high of 35977.20 today and closed at 35847.40. Now in the coming session Bank Nifty has to cross and sustain / close above its immediate resistance at 35725 - 35920 to move up further towards 36450 - 36000 . On the downside Bank Nifty has its immediate support at 35500 - 35450.
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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