In the previous session :
Bank Nifty went down by 1022 points before closing lower by 734 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 18th Apr :
Bank Nifty initially triggered our short trade with a big gap down below our 2nd short target and did not give a proper entry but completed all targets by falling further by another 390 points.
For 19th Apr :
Sustaining above 36960 enter for 37100 - 37260 - 37690 , SL 36800
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 37840 - 38080 where it has its initial resistance for a move towards next targets of 38720 - 38890 .
Sustaining or closing above 38890 Bank Nifty can move towards further targets of 39440 - 40050
On the downside :
Bank Nifty has to sustain and close below 37080 - 36850 where it has its initial support for a move towards next targets of 36200 - 36040 .
Sustaining or closing below 36040 Bank Nifty can move towards further targets of 35480 - 34870
So far this week Bank Nifty has made a low of 36441.35 breaking below our initial weekly support zone and fell short of testing our next weekly support zone at 36200 - 36040 and bounced back to close at 36729 . Now in the coming session Bank Nifty has immediate resistance at 36850 - 37080 which it needs to break and sustain / close above for a further 37260 - 37590 . On the downside Bank Nifty has immediate support at 36200 - 36040 which it needs to hold to expect a bounce.
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.
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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