Bank Nifty Outlook for 09th Dec

 In the previous session :  

Bank Nifty went up by 766 points before closing higher by 666 points on Wednesday.

Bank Nifty made a new life time high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March

On 08th Dec :

Bank Nifty triggered our long trade and completed 2 targets and more doing 450 points. 

For 09th Dec :

Sustaining above 37540 enter for 37700 - 37880 - 38370 , SL 37360

Sustaining below 37020 enter for 36870 - 36690 - 36200 , SL 37200

Now for this week :

Bank Nifty has to break and sustain above 36520 - 36720 where it has its initial resistance for a further move towards 37260 - 37400 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 35880 - 35680 where it has its initial support for a further move towards 35140 - 34990 where it has its next support for the week 

So far this week Bank Nifty made a low of 35696.75 nearly testing the lower end of our initial support and today bounced back to make a high of 37384.80 testing our next weekly resistance zone and closed within it. Now in the coming session Bank Nifty has to break and sustain above 37400 to make a move towards 37850 - 38350 where it has its last weekly long targets on the upside . On the downside Bank Nifty has immediate support now at 36900 - 36700 zone

 

Bank Nifty has to reclaim 37700 on closing basis to slowly return to 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 41829.60 on 25th Oct 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18604.45 on 19th Oct 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.