Bank Nifty Outlook for 21st Jun

 In the previous session :  

Bank Nifty went down by 316 points then went up by 183 points before closing lower by 58 points on Monday.

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 20th Jun :

Bank Nifty initially triggered our short trade and did 160 points almost completing 2 targets and took our TSL. Post that Bank Nifty reversed to trigger our long but took our stoploss. 

For 21st Jun :

Sustaining above 32840 enter for 32930 - 33040 - 33320 , SL 32730

Sustaining below 32530 enter for 32440 - 32330 - 32050 , SL 32640

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 32990 - 33140 where it has its initial resistance for a  move towards next targets of 33550 - 33660 . 

Sustaining or closing above 33660 Bank Nifty can move towards further targets of 34020 - 34400

On the downside :

Bank Nifty has to sustain and close below 32500 - 32350 where it has its initial support for a move towards next targets of 31930 - 31820 . 

Sustaining or closing below 31820 Bank Nifty can move towards further targets of 31470 - 31080

So far this week Bank Nifty made a low of 32426.40 testing our initial weekly support zone and bounced back to close at 32684.80. Now in the coming session Bank Nifty has immediate resistance at 32990 - 33140 which it needs to break and sustain above for a further move on the upside. On the downside Bank Nifty has immediate support at 32500 - 32350 .

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.