Thursday 2 June 2022

Bank Nifty Outlook for 03rd Jun

 In the previous session :  


Bank Nifty went down by 235 points then went up by 55 points before closing lower by 7 points on Thursday.


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 02nd Jun :

Bank Nifty triggered our short trade and missed our 1st target by 15 point and took our stoploss. 

For 03rd Jun :

Sustaining above 35730 enter for 35805 - 35890 - 36110 , SL 35650

Sustaining below 35490 enter for 35420 - 35340 - 35120 , SL 35575


Now for this week :

On the upside :

Bank Nifty has to sustain and close above 35960 - 36180 where it has its initial resistance for a  move towards next targets of 36770 - 36930 . 

Sustaining or closing above 36930 Bank Nifty can move towards further targets of 37430 - 37990

On the downside :

Bank Nifty has to sustain and close below 35270 - 35050 where it has its initial support for a move towards next targets of 34460 - 34300 . 

Sustaining or closing below 34300 Bank Nifty can move towards further targets of 33800 - 33250

So far this week Bank Nifty made a high of 36083.70 testing our initial resistance zone and closed today at 35613.65  . Now in the coming session Bank Nifty has to break and sustain / close  above 35960 - 36180 zone to move up further towards 36770 - 36930 . On the downside Bank Nifty has immediate support at 35270 - 35050 which it needs to hold on dips .


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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