In the previous session :
Bank Nifty went down by 170 points then went up by 242 points before closing higher by 194 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 18th Aug :
Bank Nifty initially triggered our short trade and completed just 1 target doing 50 points and took our TSL. Post that Bank Nifty reversed to trigger our long trade and completed 2 targets and more doing 150+ points
For 19th Aug :
Sustaining above 39740 enter for 39790 - 39850 - 40000 , SL 39680
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 39703.70 completing our initial weekly long target on closing above 39280 and closed at 39656.15 . Now in the coming session Bank Nifty sustaining above 39600 can move towards 39810 - 40050 to complete its last weekly long targets. On the downside Bank Nifty breaking and sustaining below 39500 can move towards 39280 - 39190 where it has immediate 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.
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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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