Bank Nifty Outlook for 20th Jul

 In the previous session :  

Bank Nifty went down by 248 points then went up by 403 points before closing higher by 361 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 19th Jul :

Bank Nifty triggered our short trade with a gap down below our 1st target . Post that Bank Nifty reversed to trigger our long trade and completed all targets doing 500+ points. 

For 20th Jul :

Sustaining above 35860 enter for 35940 - 36040 - 36300 , SL 35760

Sustaining below 35580 enter for 35500 - 35400 - 35140 , SL 35680

Now for this week :

On the upside :

Bank Nifty has to sustain and close above 34890 - 35020 where it has its initial resistance for a  move towards next targets of 35370 - 35460 . 

Sustaining or closing above 35460 Bank Nifty can move towards further targets of 35750 - 36080

On the downside :

Bank Nifty has to sustain and close below 34480 - 34350 where it has its initial support for a move towards next targets of 34000 - 33900 . 

Sustaining or closing below 33900 Bank Nifty can move towards further targets of 33600 - 33300

So far this week Bank Nifty made a high of 35761.65 testing our last weekly resistance and target zone of 35760 - 36080 and closed at 35720.35 . Now in the coming session Bank Nifty has to  sustain above 35460 - 35370 on dips to move back towards our last weekly long target of 35750 - 36080. On the downside Bank Nifty sustaining below 35370  can move towards 35020 - 34890 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.