Bank Nifty Outlook for 22nd Jul

 In the previous session :  

Bank Nifty went down by 85 points then went up by 360 points before closing higher by 229 points on Thursday.

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 21st Jul :

Bank Nifty triggered our long trade and completed 2 targets and more doing 200+ points . 

For 22nd Jul :

Sustaining above 36330 enter for 36405 - 36500 - 36730 , SL 36240

Sustaining below 36070 enter for 35990 - 35900 - 35670 , SL 36160

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 36331.70 exceeding our last weekly long targets of 35760 - 36080 and closed at 36201  . Now in the coming session Bank Nifty has to break and sustain above 36330 for a further move towards 36500 - 36700 . On the downside Bank Nifty has support at 36000 which it needs to break and sustain for a further correction towards 35900 - 35700  . 

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.