In the previous session :
Bank Nifty went up by 660 points before closing higher by 608 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 10th Jan :
Bank Nifty triggered our long trade and completed all targets doing 450+ points.
For 11th Jan :
Sustaining above 38500 enter for 38600 - 38710 - 39000 , SL 38395
Now for this week :
Bank Nifty has to break and sustain above 37985 - 38140 where it has its initial resistance for a further move towards 38560 - 38670 where it has its next resistance for the week
Bank Nifty has to break and sustain below 37495 - 37340 where it has its initial support for a further move towards 36920 - 36810 where it has its next support for the week
So far this week Bank Nifty made a high of 38400.35 breaking above our initial weekly resistance and also closed well above it . Now in the coming session Bank Nifty has immediate support at 38140 - 37985 on dips and holding the same it can move further towards 38560 - 38670 where it has its next resistance . Breaking and sustaining above 38700 it can move up further towards 39000 levels . On the downside breaking below 37980 we may see it dip towards 37495 - 37340 where it has strong support
As mentioned earlier "Bank Nifty has to give a consecutive close above 35970 to expect a further bounce ", and Bank Nifty has given a consecutive close and has now made a high of 38400 testing the targets of 38250 - 38500 too . Bank Nifty may face some resistance on a further move towards 38700 - 39000 on breaking and sustaining above 38500 next.
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.
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