Bank Nifty Outlook for 18th Mar

 In the previous session : 

Bank Nifty went up by 295 points then went down by 678 points before closing lower by 575 points on Wednesday.

Bank Nifty made a new life time high of 37708.75 in this upmove from the lows of 16116.25 made on 24th March

On 17th Mar:

Bank Nifty triggered our long trade and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and nearly completed all targets doing 480 points.

For 18th Mar :

Sustaining above 34370 enter for 34455 - 34550 - 34815 , SL 34270

Sustaining below 34090 enter for 34005 - 33905 - 33650 , SL 34190

Now for this week :

Bank Nifty has immediate resistance near 35810 - 36005 and sustaining or closing above we can see a further move towards 36545 - 36680 zone

Bank Nifty has immediate support near 35185 - 34985 and sustaining or closing below that we can see a move towards 34450 - 34315 zone

So far this week Bank Nifty made a low of 34126.85 breaking below our next support zone of 34450 - 34315 and also closed below it . Now sustaining below 34315 it can correct further towards 33850 - 33350

As mentioned previously "Now in the coming sessions Bank Nifty has to sustain above 35550 for a test of the initial resistance zone of 35810 - 36005 and failing to sustain above 35550 we can see a retest of the weekly low ." , Bank Nifty failed to break and sustain above 35550 and broke below the weekly low 

Overall Bank Nifty needs to give a strong or consecutive close above 36840 to regain strength .

So far Bank Nifty has made a high of 36497.35 this month.

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 37708.75 on 16th Feb 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 15431.75  on 16th Feb 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.