Bank Nifty Outlook for 14th Sep

  In the previous session:  

Bank Nifty went up by 330 points before closing higher by 300 points on Tuesday.

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

On 13th Sep:

Bank Nifty triggered our long trade and did 140 points

For 14th Sep:

Sustaining above 40990 enter for 41060 - 41150 - 41370, SL 40910

Sustaining below 40760 enter for 40680 - 40600 - 40380, SL 40840

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 40904.30 testing our weekly resistance zone of 40770 - 41000 and closed at 40873.10. Now in the coming session Bank Nifty has to break and sustain above 41000 for a further move towards 41600 - 41760. On the downside Bank Nifty has immediate support at 40500 and breaking and sustaining below it can correct towards 40200 - 40000.

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.