Bank Nifty Outlook for 08th Apr

 In the previous session : 

Bank Nifty went down by 360 points then went up by 690 points before closing higher by 490 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 07th Apr:

Bank Nifty initially triggered our short trade but did not complete any target and took our stoploss. Post that Bank Nifty reversed to trigger our long trade and completed 2 targets and more doing 450 points  .

For 08th Apr :

Sustaining above 33225 enter for 33370 - 33540 - 33980 , SL 33060

Sustaining below 32755 enter for 32615 - 32450 - 32000 , SL 32920

Now for this week :

Bank Nifty has immediate resistance near 34200 - 34410 and sustaining or closing above we can see a further move towards 34990 - 35140 zone

Bank Nifty has immediate support near 33510 - 33300 and sustaining or closing below that we can see a move towards 32700 - 32575 zone

So far this week Bank Nifty has made a low of 32141.15 breaking below both our weekly supports and today closed above the next support zone . 

Now Bank Nifty has immediate resistance near 33300 - 33510 zone and breaking and sustaining above it we can see a move till 33850 - 34000 . Failing to break above 33300 we can see it again correct towards 32500 levels. 

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

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.