In the previous session :
Bank Nifty went down by 533 points before closing higher by 37 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 25th Apr :
Bank Nifty triggered our short trade with a gap down below our 2nd target and did not give a chance to enter . Post that Bank Nifty reversed to trigger our long trade but failed to complete any target
For 26th Apr :
Sustaining above 36545 enter for 36830 - 37160 - 38030 , SL 36225
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 36300 - 36450 where it has its initial resistance for a move towards next targets of 36860 - 36970 .
Sustaining or closing above 36970 Bank Nifty can move towards further targets of 37320 - 37720
On the downside :
Bank Nifty has to sustain and close below 35800 - 35650 where it has its initial support for a move towards next targets of 35230 - 35120 .
Sustaining or closing below 35120 Bank Nifty can move towards further targets of 34770 - 34370
So far this week Bank Nifty made a low of 35511.40 breaking below our initial weekly support zone and bounced back to close at 36082.35 well above the initial support. Now in the coming session Bank Nifty holding above 35800 has immediate resistance at 36300 - 36450 and on the downside the immediate support is at 35800 - 35650.
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 35400 - 35100 zone which it needs to hold on correction else closing below it we may see a further correction towards 34350 - 34050
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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