Bank Nifty Outlook for 07th Jul

 In the previous session :  

Bank Nifty went up by 572 points before closing higher by 508 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 06th Jul :

Bank Nifty triggered our long trade and completed all targets and more doing 450+ points

For 07th Jul :

Sustaining above 34440 enter for 34510 - 34590 - 34800 , SL 34360

Sustaining below 34210 enter for 34140 - 34060 - 33850 , SL 34290

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

So far this week today Nifty made a low of 33515.60 and went up to make a high of 34388.50 breaking above our next weekly resistance zone of 34190 - 34280 and closed above it at 34324.25  . Now in the coming session Bank Nifty has immediate support at 34190 - 34140 and breaking and sustaining below it can move towards 33860 - 33740 . On the upside Bank Nifty has to sustain above 34280 for a further move towards 34560 - 34870 zone  . 

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.