In the previous session :
Bank Nifty went up by 1617 points before closing higher by 1487 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 04th Apr :
Bank Nifty triggered our long trade with a big gap up based on the news of HDFC and HDFC Bank merger and went up further by another 940 points.
For 05th Apr :
Sustaining above 38865 enter for 39005 - 39170 - 39600 , SL 38700
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 37400 - 37550 where it has its initial resistance for a move towards next targets of 37980 - 38100 .
Sustaining or closing above 38100 Bank Nifty can move towards further targets of 38450 - 38850
On the downside :
Bank Nifty has to sustain and close below 36900 - 36740 where it has its initial support for a move towards next targets of 36320 - 36210 .
Sustaining or closing below 36210 Bank Nifty can move towards further targets of 35850 - 35450
Overall Bank Nifty has immediate good resistance at 37350 - 37650 zone which it needs to close above for the next move towards 38400 - 38700 .
Overall Bank Nifty has immediate good support at 35900 - 35600 zone which it needs to hold on correction to continue moving up . Immediate support for Bank Nifty is at 36200.
So far this week Bank Nifty made a high of 38765.85 almost completing all our weekly targets till 38450 - 38850 . Now in the coming session Bank Nifty has to break and sustain above 38850 to move further towards 39100 - 39400 where we may see profit booking . On the downside Bank Nifty has immediate support at 38100 - 37900 zone
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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