Bank Nifty Outlook for 16th Jun

 In the previous session :  

Bank Nifty went down by 62 points then went up by 243 points before closing higher by 27 points on Wednesday.

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 15th Jun :

Bank Nifty triggered our long trade and completed just 1 target doing 80 points. 

For 16th Jun :

Sustaining above 33475 enter for 33560 - 33660 - 33920 , SL 33380

Sustaining below 33200 enter for 33120 - 33020 - 32770 , SL 33300

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 34630 - 34730 where it has its initial resistance for a  move towards next targets of 34980 - 35050 . 

Sustaining or closing above 35050 Bank Nifty can move towards further targets of 35270 - 35500

On the downside :

Bank Nifty has to sustain and close below 34330 - 34240 where it has its initial support for a move towards next targets of 33980 - 33920 . 

Sustaining or closing below 33920 Bank Nifty can move towards further targets of 33700 - 33460

So far this week Bank Nifty made a low of 33123.90, completing all our weekly short targets till 33460 and closed today at 33339. Now in the coming session Bank Nifty sustaining below 33150 can move further towards 33000 - 32740 next. On the upside Bank Nifty has immediate resistance at 33650 which it needs to break and sustain above to move towards 33920 - 33980 .

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.