Bank Nifty Outlook for 13th Dec

  In the previous session:  

Bank Nifty went down by 255 points then went up by 133 points before closing higher by 75 points on Monday.

Bank Nifty made a new lifetime high of 43853.40 on 09th Dec 2022 from the lows of 16116.25 made on 25th March 2020

On 12th Dec:

Bank Nifty opened at our 2nd short target and did not give a trade. Had posted revised levels on telegram based on which we got a long trade which did 200 points.

For 13th Dec:

Sustaining above 43785 enter for 43830 - 43890 - 44030, SL 43730

Sustaining below 43630 enter for 43585 - 43530 - 43390, SL 43685

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 43760 - 43840 for a move towards initial long targets of 44050 - 44110. 

Sustaining or closing above 44110 Bank Nifty may move towards next long targets of 44290 - 44490

On the downside:

Bank Nifty has to sustain and close below its immediate support at 43510 - 43430 for a move towards initial short targets of 43215 - 43160. 

Sustaining or closing below 43160 Bank Nifty may move towards next short targets of 42980 - 42780

So far this week Bank Nifty made a low of 43378.80 breaking below its weekly support and bounced back to close at 43708.75.

Now in the coming session Bank has to break and sustain above 43760 - 43840 for a move towards 44050 - 44110. On the downside Bank Nifty has immediate support at 43510 - 43430 which it needs to break and sustain below to move towards 43215 - 43160.

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 43853.40 on 09th Dec 2022 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 18887.60 on 01st Dec 2022 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.