Bank Nifty Outlook for 23rd Dec

 In the previous session :  

Bank Nifty went up by 504 points before closing higher by 421 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 22nd Dec :

Bank Nifty triggered our long trade and completed 2 targets and more doing 340 points.

For 23rd Dec :

Sustaining above 35215 enter for 35325 - 35460 - 35800 , SL 35085

Sustaining below 34850 enter for 34740 - 34600 - 34260 , SL 34975

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 bounced back to make a high of 35112.10 today and closed at 35029.50 . Now in the coming session Bank Nifty has immediate resistance at 35120 - 35310 and it needs to sustain above it for a further move towards 35500 - 35800 . On the downside Bank  Nifty has immediate support at 34600 - 34470 zone and breaking and sustaining below it can move towards 34000 - 33550. 

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.

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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.