In the previous session :
Bank Nifty went up by 176 points then went down by 375 points before closing lower by 305 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 13th Jul :
Bank Nifty triggered our long trade and missed our 1st target by 2 points and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets and more doing 250+ points
For 14th Jul :
Sustaining above 34955 enter for 35030 - 35120 - 35350 , SL 34865
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 of 35543.10 and today made a low of 34757.60 breaking below its initial weekly support zone of 34920 - 34800 and closed at 34827.60 . Now in the coming session Bank Nifty breaking and sustaining below 34800 can move towards its next weekly support zone at 34460 - 34380 . On the upside Bank Nifty breaking and sustaining above 35000 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.
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