Bank Nifty Outlook for 27th Sep

 In the previous session:  

Bank Nifty went down by 1054 points before closing lower by 930 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 26th Sep:

Bank Nifty triggered our short trade with a gap down below our 2nd target and fell further by 600+ points completing all our short targets and more.

For 27th Sep:

Sustaining above 38820 enter for 38940 - 39090 - 39470, SL 38680

Sustaining below 38410 enter for 38290 - 38150 - 37770, SL 38560

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

So far this week Bank Nifty made a low of 38492.20 testing our initial weekly short target zone of 38500 - 38360 and closed at 38616.25

Now in the coming session Bank Nifty has immediate resistance at 39040 - 39230 and has to break and close above it for a further bounce. On the downside Bank Nifty has immediate support at 38500 - 38360 zone which it needs to break and sustain/close below for a further move towards its next weekly short target 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.