In the previous session :
Bank Nifty went down by 457 points before closing lower by 372 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 29th Jun :
Bank Nifty triggered our short trade with a big gap down below our 2nd target and did not give a chance to enter a trade.
For 30th Jun :
Sustaining above 33430 enter for 33465 - 33550 - 33775 , SL 33300
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 33870 - 34010 where it has its initial resistance for a move towards next targets of 34410 - 34520 .
Sustaining or closing above 34520 Bank Nifty can move towards further targets of 34870 - 35250
On the downside :
Bank Nifty has to sustain and close below 33390 - 33240 where it has its initial support for a move towards next targets of 32840 - 32730 .
Sustaining or closing below 32730 Bank Nifty can move towards further targets of 32390 - 32000
So far this week Bank Nifty made a high of 34147.50 breaking above our initial weekly resistance zone of 33870 - 34010 and went down till 33185.25 today breaking below its immediate weekly support zone of 33390 - 33240 and closed at 33269.90 within the initial weekly support zone. Now in the coming session Bank Nifty breaking and sustaining below 33150 can move towards its next weekly support zone of 32840 - 32730 . On the upside Bank Nifty has immediate resistance at 33550 and needs to break and sustain above it for a further move towards 33870 - 34010.
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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