Bank Nifty Outlook for 09th Jun

 In the previous session :  

Bank Nifty went down by 475 points before closing lower by 314 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 07th Jun :

Bank Nifty triggered our short trade and took our stoploss. Post that Bank Nifty triggered our long trade and completed 2 targets and more doing 300+ points. 

For 09th Jun :

Sustaining above 35050 enter for 35110 - 35190 - 35380 , SL 34975

Sustaining below 34840 enter for 34780 - 34700 - 34520 , SL 34915

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 35490 - 35620 where it has its initial resistance for a  move towards next targets of 35980 - 36070 . 

Sustaining or closing above 36070 Bank Nifty can move towards further targets of 36380 - 36720

On the downside :

Bank Nifty has to sustain and close below 35060 - 34930 where it has its initial support for a move towards next targets of 34570 - 34480 . 

Sustaining or closing below 34480 Bank Nifty can move towards further targets of 34170 - 33830

So far this week Bank Nifty made a low of 34831.75 breaking below our initial weekly support zone of 35060 - 34930 and closed at 34946.15 today. Now in the coming session Bank Nifty breaking and sustaining below 34930 has next support at 34570 - 34480 on dips . On the upside Bank Nifty has immediate resistance at 35150 - 35320 which it needs to break and sustain for a further move towards 35490 - 35620 .

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.