Bank Nifty Outlook for 04th Jan

 In the previous session :  

Bank Nifty went up by 1010 points before closing higher by 940 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 03rd Jan :

Bank Nifty triggered our long trade and completed all targets and more doing 900+ points. 

For 04th Jan :

Sustaining above 36550 enter for 36640 - 36740 - 36990 , SL 36460

Sustaining below 36290 enter for 36200 - 36100 - 35850 , SL 36380

Now for this week :

Bank Nifty has to break and sustain above 35625 - 35720 where it has its initial resistance for a further move towards 35965 - 36030 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 35335 - 35245 where it has its initial support for a further move towards 35000 - 34935 where it has its next support for the week 

So far this week Bank Nifty made a high of 36492.10 breaking above both our weekly resistance zone and close well above our next target zone too. Bank Nifty has completed all immediate weekly targets and now has immediate resistance at 36600 - 36700 zone which it may test sustaining above 35965 - 36030.

As mentioned earlier "Bank Nifty has to give a consecutive close above 35970 to expect a further bounce ". today Bank Nifty has given its first close above 35970 .

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.