Bank Nifty Outlook for 25th Aug

  In the previous session :  

Bank Nifty went down by 145 points then went up by 423 points before closing higher by 340 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 24th Aug :

Bank Nifty triggered our long trade and completed 2 targets and more doing 250+ points . 

For 25th Aug :

Sustaining above 39200 enter for 39300 - 39420 - 39730 , SL 39090

Sustaining below 38870 enter for 38770 - 38650 - 38350 , SL 38990

Now for this week :

On the upside :

Bank Nifty has to sustain and close above its immediate resistance at 39190 - 39310 for a move  towards initial long targets of 39650 - 39740 . 

Sustaining or closing above 39740 Bank Nifty may move towards next long targets of 40020 - 40350

On the downside :

Bank Nifty has to sustain and close below its immediate support at 38790 - 38660 for a move towards initial short targets of 38320 - 38230 . 

Sustaining or closing below 38230 Bank Nifty may move towards next short targets of 37950 - 37630

So far this week Bank Nifty triggered our weekly short trade and made a low of 37950.85 testing our next weekly short target zone of 37950 - 37630 . Post that Bank Nifty has bounced back to make a high of 39120.80 . Now in the coming session Bank Nifty has to break and sustain above its immediate weekly resistance zone of 39190 - 39310 for a further move . On the downside Bank Nifty has immediate support at 38790 - 38660 .

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.