Bank Nifty Outlook for 12th Jul

 In the previous session :  

Bank Nifty went down by 117 points then went up by 419 points before closing higher by 345 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 11th Jul :

Bank Nifty triggered our long trade and completed 2 targets and more doing 250+ points

For 12th Jul :

Sustaining above 35585 enter for 35655 - 35740 - 35950 , SL 35505

Sustaining below 35355 enter for 35285 - 35200 - 34980 , SL 35435

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 35320 - 35450 where it has its initial resistance for a  move towards next targets of 35780 - 35870 . 

Sustaining or closing above 35870 Bank Nifty can move towards further targets of 36160 - 36470

On the downside :

Bank Nifty has to sustain and close below 34920 - 34800 where it has its initial support for a move towards next targets of 34460 - 34380 . 

Sustaining or closing below 34380 Bank Nifty can move towards further targets of 34090 - 33770

So far this week Bank Nifty has made a low of 35006.55 and bounced back to make a high of 35543.10 breaking above its initial weekly resistance zone of 35320 - 35450 and closed at 35469.65 . Now in the coming session Bank Nifty holding above 35320 - 35450 can move towards its next weekly target zone of 35780 - 35870. On the downside Bank Nifty breaking and sustaining 35200 has immediate weekly support at 34920 - 34800.  

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.