In the previous session :
Bank Nifty went up by 909 points before closing higher by 506 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 21st Jun :
Bank Nifty initially triggered our long trade and completed all targets and more doing 750 points .
For 22nd Jun :
Sustaining above 33370 enter for 33480 - 33610 - 33940 , SL 33245
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 today till 33593.80 testing our next weekly resistance zone and closed at 33191.75. Now in the coming session Bank Nifty has to sustain above 32990 - 33140 to again move towards 33550 - 33660 where it has immediate resistance. On the downside Bank Nifty has immediate support at 32800 levels and then next at 32500 - 32350 on breaking and sustaining below 32990.
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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