In the previous session :
Bank Nifty went down by 554 points before closing lower by 435 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 06th Apr :
Bank Nifty triggered our short trade and almost completed 2 targets doing 300 points.
For 07th Apr :
Sustaining above 37860 enter for 38000 - 38160 - 38600 , SL 37700
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 37513.85 before closing today at 37632.80 . Now in the coming session Bank Nifty has immediate support at 37500 - 37400 and breaking and sustaining below it can move towards 37100 - 36900 zone where it has its next support . On the upside Bank Nifty has immediate resistance at 37980 - 38100 zone which it needs to break and sustain to retest this weeks highs .
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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