Bank Nifty Outlook for 15th Feb

 In the previous session : 

Bank Nifty went up by 570 points then went down by 52 points before closing higher by 357 points on Friday.

Bank Nifty made a new life time high of 36615.20 in this upmove from the lows of 16116.25 made on 24th March

On 12th Feb :

Bank Nifty triggered our long trade and did just 1 target giving 200 points 

For 15th Feb :

Sustaining above 36270 enter for 36365 - 36480 - 36780 , SL 36155

Sustaining below 35950 enter for 35855 - 35740 - 35440 , SL 36060

Now for this week :

Bank Nifty has immediate resistance near 36370 - 36530 and sustaining or closing above we can see a further move towards 36970 - 37085 zone

Bank Nifty has immediate support near 35850 - 35690 and sustaining or closing below that we can see a move towards 35250 - 35135 zone

Now in the coming week Bank Nifty needs to break and sustain or close beyond the range of 35690 - 36530 for a bigger move.

Caution advised on entering fresh long positions from here on further upmoves . Those who are looking to short this week should keep a cbsl of 36660 as closing above it we can see one more upmove towards 37000 - 37500 .

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 36615.20 on 05th Feb 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 15257.10  on 09th Feb 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.