Bank Nifty Outlook for 04th Jul

  In the previous session :  

Bank Nifty went down by 344 points then went up by 241 points before closing higher by 114 points on Friday.

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 01st Jul :

Bank Nifty triggered our short trade and completed 2 targets and more doing 170+ points and took our TSL. Post that Bank Nifty triggered our long trade and completed 1 target and more doing 100+ points. Overall Bank Nifty showed more strength compared to Nifty.

For 04th Jul :

Sustaining above 33660 enter for 33730 - 33820 - 34050 , SL 33570

Sustaining below 33420 enter for 33350 - 33260 - 33050 , SL 33500

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 33740 - 33860 where it has its initial resistance for a  move towards next targets of 34190 - 34280 . 

Sustaining or closing above 34280 Bank Nifty can move towards further targets of 34560 - 34870

On the downside :

Bank Nifty has to sustain and close below 33340 - 33220 where it has its initial support for a move towards next targets of 32890 - 32800 . 

Sustaining or closing below 32800 Bank Nifty can move towards further targets of 32520 - 32200

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.