In the previous session :
Bank Nifty went down by 159 points then went up by 399 points and closed higher by 375 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 28th Jul :
Bank Nifty triggered our long trade with a gap up above our 2nd target and went up further by 350 points
For 29th Jul :
Sustaining above 37500 enter for 37565 - 37650 - 37870 , SL 37415
Now for this week :
On the upside :
Bank Nifty has to sustain and close above 36960 - 37100 where it has its initial resistance for a move towards next targets of 37470 - 37570 .
Sustaining or closing above 37570 Bank Nifty can move towards further targets of 37900 - 38260
On the downside :
Bank Nifty has to sustain and close below 36520 - 36380 where it has its initial support for a move towards next targets of 36000 - 35900 .
Sustaining or closing below 35900 Bank Nifty can move towards further targets of 35580 - 35220
So far this week Bank Nifty made a low of 36248.60 breaking below our initial weekly support in the previous session and bounced back sharply to make a high of 37414 today almost testing our initial weekly long target zone of 37470 - 37570 and close at 37378.15 . Now in the coming session Bank Nifty sustaining above 37100 can move to complete the immediate weekly long targets of 37470 - 37570 where it may see some profit booking . On the downside Bank Nifty has immediate support at 36960 and breaking and sustaining below it we may see it move towards 36600 - 36400 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.
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