In the previous session:
Bank Nifty went up by 946 points before closing higher by 680 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 14th Oct:
Bank Nifty triggered our long trade with a gap up near our last target and did not give a trade.
For 17th Oct:
Sustaining above 39510 enter for 39640 - 39790 - 40180, SL 39370
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 39650 - 39850 for a move towards initial long targets of 40430 - 40580.
Sustaining or closing above 40580 Bank Nifty may move towards next long targets of 41070 - 41620
On the downside:
Bank Nifty has to sustain and close below its immediate support at 38970 - 38760 for a move towards initial short targets of 38180 - 38030.
Sustaining or closing below 38030 Bank Nifty may move towards next short targets of 37540 - 36990
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