Weekly Spot Outlook Of Bank Nifty for 15th to 19th Jun

In the previous week : 

Bank Nifty went up by 773 points then went down by 1508 points before ending the week lower by 380 points compared to its last weekly closing. 

Bank Nifty initially triggered our long trade last week and did 450 points and took our TSL. Post that Bank Nifty reversed and triggered our short trade and did 1180 points .

Bank Nifty had made a life time high of 32613.10 on 30th December and has been trading sideways to negative since then .

Bank Nifty for this week :

• Sustaining above 20940 enter for 21115 - 21260 - 21400

• Further sustaining above 21605 enter for 21730 - 22150 - 22610

• Sustaining below 20370 enter for 20190 - 20050 - 19910

• Further sustaining below 19705 enter for 19580 - 19160 - 18700

As per the above level Bank Nifty has immediate resistance near 20940 - 21115 zone and it has immediate support near 20370 - 20190 zone .

How to use these levels  

• For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets

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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.