In the previous session:
Bank Nifty went down by 261 points then went up by 1163 points before closing higher by 984 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 30th Sep:
Bank Nifty initially triggered our short trade and took our stoploss. Post that Bank Nifty reversed to trigger our long trade and completed all targets and more doing 950+ points.
For 03rd Oct:
Sustaining above 38870 enter for 39015 - 39185 - 39635, SL 38705
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 39020 - 39260 for a move towards initial long targets of 39920 - 40090.
Sustaining or closing above 40090 Bank Nifty may move towards next long targets of 40660 - 41290
On the downside:
Bank Nifty has to sustain and close below its immediate support at 38240 - 38000 for a move towards initial short targets of 37340 - 37170.
Sustaining or closing below 37170 Bank Nifty may move towards next short targets of 36600 - 35970
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.
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment