Bank Nifty went down by 2400 points before closing lower by 2163 points on Thursday.
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 24th Feb :
Bank Nifty triggered our short trade with a big gap down below our last target and corrected further by 1250+ points.
For 25th Feb :
Sustaining above 35570 enter for 35785 - 36025 - 36675 , SL 35335
Sustaining below 34885 enter for 34675 - 34430 - 33775 , SL 35125
Now for this week :
Bank Nifty has to break and sustain above 38070 - 38360 where it has its initial resistance for a move towards next targets of 39160 - 39370 . Sustaining or closing above 39370 Bank Nifty can move towards further targets of 40060 - 40820.
Bank Nifty has to break and sustain below 37130 - 36830 where it has its initial support for a move towards next targets of 36030 - 35830 . Sustaining or closing below 35830 Bank Nifty can move towards further targets of 35140 - 34380 .
So far this week Bank Nifty made a low of 34991.35 testing our last weekly support zone and target zone of 35140 - 34380 and closed at 35228.10 . Now in the coming session Bank Nifty has to sustain above 35140 for a move towards its immediate resistance at 35830 - 36030 . On the downside breaking and sustaining below 34380 can lead to further corrections towards 33750 - 33550 .
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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