In the previous session :
Bank Nifty went up 394 points then went down by 802 points before closing lower by 387 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 19th Apr :
Bank Nifty initially triggered our long trade and completed 1 target and took our TSL. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets and more doing 570 points .
For 20th Apr :
Sustaining above 36450 enter for 36515 - 36595 - 36800 , SL 36375
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 35926.30 breaking below our next weekly support zone and closed at 36341.60 . Now in the coming session Bank Nifty breaking and sustaining below 36040 has strong support at 35480 - 34870 . Holding above 36200 Bank Nifty has immediate resistance at 36850 - 37080 .
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.
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .
To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment