Bank Nifty Outlook for 19th Mar

 In the previous session : 

Bank Nifty went up by 530 points then went down by 631 points before closing lower by 372 points on Thursday.

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 18th Mar:

Bank Nifty opened with a gap up near our last target and did not give a chance to take a long trade . :Post that Bank Nifty triggered our short trade and completed all targets and more doing 490 points.

For 19th Mar :

Sustaining above 33990 enter for 34070 - 34165 - 34420 , SL 33900

Sustaining below 33725 enter for 33640 - 33550 - 33295 , SL 33815

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 33597.55 sustaining below 34315 within our target of  33850 - 33350 .

Now Bank Nifty has to hold 33500 on closing for a bounce to come towards 34315 - 34450 initially and above it towards 34985 - 35185

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.

Now Bank Nifty has to hold above 33500 on closing basis for a bounce to begin towards 34315 - 34450 initiially .

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.