In the previous session :
Bank Nifty went down by 657 points before closing lower by 375 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 27th Apr :
Bank Nifty triggered our short trade with a gap down near our 2nd short target and corrected further by 300 points .
For 28th Apr :
Sustaining above 36200 enter for 36280 - 36390 - 36680 , SL 36070
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 till 36604.55 in the previous session breaking above the initial weekly resistance and closed today at 36028.85 . Now in the coming session Bank Nifty has immediate resistance at 36300 - 36450 which it needs to break and sustain above for a move till 36600 - 36650 . On the downside Bank Nifty has immediate support is at 35800 - 35650 which it needs to hold on corrections .
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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