In the previous session:
Bank Nifty went up by 932 points before closing higher by 684 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 21st Oct:
Bank Nifty triggered our long trade with a gap up near our 1st target and went up further by 675 points completing all targets and more
For 24th Oct:
Sustaining above 40960 enter for 41070 - 41200 - 41530, SL 40840
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 41070 - 41250 for a move towards initial long targets of 41740 - 41870.
Sustaining or closing above 41870 Bank Nifty may move towards next long targets of 42290 - 42750
On the downside:
Bank Nifty has to sustain and close below its immediate support at 40490 - 40320 for a move towards initial short targets of 39830 - 39700.
Sustaining or closing below 39700 Bank Nifty may move towards next short targets of 39280 - 38820
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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