Bank Nifty Outlook for 24th Jan

In the previous session :  

Bank Nifty went down by 626 points before closing lower by 276 points on Friday.

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 21st Jan :

Bank Nifty initially triggered our short trade and completed all targets and more doing 490 points . 

For 24th Jan :

Sustaining above 37660 enter for 37690 - 37725 - 37840 , SL 37595

Sustaining below 37490 enter for 37455 - 37420 - 37300 , SL 37555

Now for this week :

Bank Nifty has to break and sustain above 37680 - 37750 where it has its initial resistance for a  move towards next targets of 37930 - 37970 where it has its next resistance for the week 

Bank Nifty has to break and sustain below 37470 - 37400 where it has its initial support for a move towards next targets of 37225 - 37170 where it has its next support for the week 

As mentioned earlier "Bank Nifty has to give a consecutive close above 35970 to expect a further bounce ", and Bank Nifty after giving a consecutive close went up and made a high of 38855.55 doing around 2900 points. Post that Bank Nifty has reversed to make a low of 37224.25. Bank Nifty has immediate support at 37000 - 36800 and holding the same we may see it bounce again.

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.