In the previous session:
Bank Nifty went down by 707 points before closing lower by 432 points on Friday.
Bank Nifty made a new lifetime high of 41829.60 in this upmove from the lows of 16116.25 made on 24th March
On 16th Sep:
Bank Nifty triggered our short trade and completed all targets and more falling 500+ points.
For 19th Sep:
Sustaining above 40920 enter for 41000 - 41110 - 41370, SL 40820
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 41110 - 41150 for a move towards initial long targets of 41540 - 41640.
Sustaining or closing above 41640 Bank Nifty may move towards next long targets of 41980 - 42350
On the downside:
Bank Nifty has to sustain and close below its immediate support at 40550 - 40400 for a move towards initial short targets of 40000 - 39900.
Sustaining or closing below 39900 Bank Nifty may move towards next short targets of 39575 - 39205
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 41840.15 on 15th Sep 2022 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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