Bank Nifty Outlook for 18th Aug

 In the previous session :  

Bank Nifty went down by 36 points then went up by 265 points before closing higher by 222 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 17th Aug :

Bank Nifty triggered our long trade and completed 2 targets and more doing 150+ points  

For 18th Aug :

Sustaining above 39550 enter for 39600 - 39660 - 39820 , SL 39485

Sustaining below 39375 enter for 39325 - 39265 - 39100 , SL 39435

Now for this week :

On the upside :

Bank Nifty has to sustain and close above its immediate resistance at 39190 - 39280 for a move  towards initial targets of 39530 - 39600 . 

Sustaining or closing above 39600 Bank Nifty may move towards next targets of 39810 - 40050

On the downside :

Bank Nifty has to sustain and close below its immediate support at 38890 - 38800 for a move towards initial targets of 38550 - 38490 . 

Sustaining or closing below 38490 Bank Nifty may move towards next targets of 38270 - 38030

So far this week Bank Nifty made a high of 39504.50 almost nearing our initial weekly long target zone of 39530 - 39600 and closed at 39461.70 . Now in the coming session Bank Nifty sustaining above 39280 can move towards 39530 - 39600 to complete its initial weekly long targets. On the downside Bank Nifty breaking and sustaining below 39190 can move towards 38890 - 38800 where it has immediate weekly support.

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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.