Bank Nifty Outlook for 28th Jan

 In the previous session : 

Bank Nifty went up by 88 points then went down by 1032 points before closing lower by 914 points on Wednesday

Bank Nifty made a new life time high of 32842.30 in this upmove from the lows of 16116.25 made on 24th March

On 27th Jan :

Bank Nifty triggered our short trade and completed all target and more doing 869 points

For 28th Jan :

Sustaining above 30460 enter for 30570 - 30695 - 31030 , SL 30340

Sustaining below 30105 enter for 30000 - 29875 - 29540 , SL 30230

Now for this week :

Bank Nifty has immediate resistance near 31450 - 31625 and sustaining or closing above we can see a further move towards 32105 - 32225 zone

Bank Nifty has immediate support near 30885 - 30710 and sustaining or closing below that we can see a move towards 30230 - 30105 zone

So far this week Bank Nifty has made a high of 31697.55 breaking above our immediate resistance but failed to sustain. Bank Nifty sustaining below 30710 we were expecting to see a correction towards 30230 - 30105 zone and Bank Nifty made a low of 30165.65. Now breaking and sustaining below 30105 we can see a further correction towards 29695 - 29250 zone. 

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 32842.30 on 21st Jan 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 14753.55  on 21st Jan 2021 from the lows of 7511 made on 24th March 2020.

How to use these levels 

• Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 

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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.