Bank Nifty Outlook for 13th Jan

 In the previous session :  

Bank Nifty went up by 409 points before closing higher by 285 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 12th Jan :

Bank Nifty triggered our long trade with a gap up and completed 2 targets and more  doing 200+ points. 

For 13th Jan :

Sustaining above 38865 enter for 38950 - 39050 - 39300 , SL 38770

Sustaining below 38590 enter for 38510 - 38400 - 38140 , SL 38685

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 38851.45 breaking above our next weekly resistance zone and testing our expected targets of 38800 - 39000 and closed well above the next weekly resistance  . Now in  the coming session Bank Nifty sustaining above 38600 can move towards its next targets of 39050 - 39200 . On the downside Bank Nifty has immediate support at 38600 - 38400 on dips  . 

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 38851.45 . Bank Nifty may face some resistance on a further move towards 39050 - 39250 .

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.