Bank Nifty Outlook for 28th Jan

 In the previous session :  

Bank Nifty went down by 695 points then went up by 440 points before closing higher by 275 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 27th Jan :

Bank Nifty initially triggered our short trade with a big gap down below our last target and did not give a trade. Post that Bank Nifty reversed to trigger our long trade and completed 2 targets and more doing 300+ points .

For 28th Jan :

Sustaining above 38120 enter for 38210 - 38310 - 38580 , SL 38025

Sustaining below 37840 enter for 37760 - 37650 - 37390 , SL 37940

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 

So far this week Bank Nifty made a low of 36375.35 breaking below both our weekly supports and completed all initial expected targets for the week till 36850 with the low. Post that Bank Nifty has bounced back sharply till 38147.65 breaking above both our weekly resistance zone and also closed just above it . Now in the coming session Bank Nifty has to sustain above 37970 for a move towards 38300 - 38500 . On the downside Bank Nifty has immediate support at 37500 - 37400 and breaking and sustaining below it we may again see it move towards 37000 

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 36375.35. 

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.