In the previous session:
Bank Nifty went down by 584 points then went up by 754 points before closing higher by 533 points on Wednesday.
Bank Nifty made a new lifetime high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March
On 14th Sep:
Bank Nifty opened below our last short target and did not give a trade. Post that Bank Nifty reversed to trigger our long trade and completed all targets and more doing 500+ points
For 15th Sep:
Sustaining above 41520 enter for 41590 - 41670 - 41880, SL 41440
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 low of 40288.90 and bounced back to make a high of 41626.90 intraday itself testing our initial weekly long target zone of 41600 - 41760 and closed at 41405.40. Now in the coming session Bank Nifty has to break and sustain above 41760 for a further move towards 42290 - 42860. On the downside Bank Nifty has immediate support at 41000 and breaking and sustaining below it can correct towards 40750 - 40500.
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.
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