Bank Nifty Outlook for 30th Sep

  In the previous session:  

Bank Nifty went up by 523 points then went down by 223 points before closing lower by 112 points on Thursday.

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

On 29th Sep:

Bank Nifty triggered our long trade with a gap up above our 2nd target and did not gie a trade. Had shared revised levels on the telegram channel which gave us a short trade.

For 30th Sep:

Sustaining above 37830 enter for 37930 - 38060 - 38390, SL 37700

Sustaining below 37470 enter for 37370 - 37240 - 36910, SL 37600

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 37536.65 almost completing our last weekly short targets of 37910 - 37400 and closed at 37647.75

Now in the coming session Bank Nifty sustaining above 37910 has immediate resistance at 38360 - 38500 and has to break and close above it for a further bounce. On the downside Bank Nifty sustaining below 37910 can move towards 37400 to complete our last weekly short target and below it can correct further towards 37250 - 37050. 

 

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.