Bank Nifty Outlook for 13th Sep

 In the previous session:  

Bank Nifty went up by 269 points then went down by 38 points before closing higher by 158 points on Monday.

Bank Nifty made a new lifetime high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March

On 12th Sep:

Bank Nifty triggered our long trade and took our stoploss.

For 13th Sep:

Sustaining above 40760 enter for 40870 - 41000 - 41340, SL 40630

Sustaining below 40390 enter for 40280 - 40150 - 39800, SL 40520

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 40770 - 41000 for a move   towards initial long targets of 41600 - 41760. 

Sustaining or closing above 41760 Bank Nifty may move towards next long targets of 42290 - 42860

On the downside:

Bank Nifty has to sustain and close below its immediate support at 40060 - 39830 for a move towards initial short targets of 39220 - 39070. 

Sustaining or closing below 39070 Bank Nifty may move towards next short targets of 38540 - 37970

So far this week Bank Nifty made a high of 40684.90 and closed at 40574. Now in the coming session Bank Nifty has immediate resistance at 40770 - 41000 zone and needs to break and sustain above it for a further move towards 41600 - 41760. On the downside Bank Nifty has immediate support at 40060 - 39830 which it needs to break and sustain for a move towards 39220 - 39070.

In case 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.