Bank Nifty Outlook for 17th Jun

 In the previous session :  

Bank Nifty went up by 417 points then went down by 801 points before closing lower by 721 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 16th Jun :

Bank Nifty initially triggered our long trade with a big gap up near our 2nd target  and did not give a chance to enter and later took our stoploss. Post that Bank Nifty reversed to trigger our short trade and completed all targets and more doing 650+ points. 

For 17th Jun :

Sustaining above 32760 enter for 32850 - 32960 - 33230 , SL 32660

Sustaining below 32470 enter for 32380 - 32280 - 32000 , SL 32570

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 32537.95, completing all our weekly short targets till 33460 and exceeded it by 900 points and closed today at 32617.10. Now in the coming session Bank Nifty sustaining below 32470 can move further towards 32280 - 32000 next. On the upside Bank Nifty has immediate resistance at 32850 - 32960  .

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.