In the previous session:
Bank Nifty went down by 1218 points before closing lower by 1084 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 23rd Sep:
Bank Nifty triggered our short trade and completed all targets and more doing 1000+ points.
For 26th Sep:
Sustaining above 39740 enter for 39850 - 39990 - 40350, SL 39600
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 39860 - 40060 for a move towards initial long targets of 40590 - 40730.
Sustaining or closing above 40730 Bank Nifty may move towards next long targets of 41190 - 41690
On the downside:
Bank Nifty has to sustain and close below its immediate support at 39230 - 39040 for a move towards initial short targets of 38500 - 38360.
Sustaining or closing below 38360 Bank Nifty may move towards next short targets of 37910 - 37400
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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