Bank Nifty Outlook for 13th Jul

  In the previous session :  

Bank Nifty went down by 422 points before closing lower by 337 points on Tuesday.

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 12th Jul :

Bank Nifty triggered our long trade and completed 2 targets and more doing 300+ points

For 13th Jul :

Sustaining above 35245 enter for 35310 - 35390 - 35590 , SL 35165

Sustaining below 35020 enter for 34955 - 34875 - 34670 , SL 35100

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 35047.50 . Now in the coming session Bank Nifty has immediate support at 34920 - 34800 zone on the downside which it needs to hold on further correction for a bounce again. One the upside Bank Nifty has immediate resistance at 35320 - 35450 .

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.