In the previous session :
Bank Nifty went up by 124 points and then went down by 699 points before closing lower by 567 points on Tuesday.
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 05th Apr :
Bank Nifty triggered our short trade and completed 2 targets and more doing 450+ points.
For 06th Apr :
Sustaining above 38310 enter for 38460 - 38630 - 39090 , SL 38140
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 and has then corrected on profit booking till 37935.35 before closing today at 38067.90. Now in the coming session Bank Nifty sustaining below 37900 has immediate support at 37400 - 37550 which it needs to hold to bounce back . On the upside Bank Nifty has good resistance at 38450 - 38850 which it needs to break and give a close above for a further move towards 39100 - 39400.
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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