Bank Nifty Outlook for 21st Dec

 In the previous session :  

Bank Nifty went down by 1600 points before closing lower by 1178 points on Monday.

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 20th Dec :

Bank Nifty triggered our short trade with a gap down near our 2nd short target and corrected further by 1100 points. 

For 21st Dec :

Sustaining above 34630 enter for 34740 - 34880 - 35230 , SL 34490

Sustaining below 34250 enter for 34140 - 34000 - 33650 , SL 34380

Now for this week :

Bank Nifty has to break and sustain above 35930 - 36120 where it has its initial resistance for a further move towards 36640 - 36770 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 35310 - 35120 where it has its initial support for a further move towards 34600 - 34470 where it has its next support for the week 

So far this week Bank Nifty made a low of 34018.45 breaking below our next weekly support zone and closed below it. Now in the coming session Bank Nifty sustaining below 34470 can move towards 34000 - 33550. On the upside Bank Nifty on sustaining above 34600 can move towards 35120 - 35310 where it has its immediate resistance

Bank Nifty has to reclaim 37350 on closing basis to regain strength for a move towards 38100 - 38300 zone. 

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.

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 6 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.