Bank Nifty Outlook for 14th Dec

 In the previous session:  

Bank Nifty went up by 275 points before closing higher by 237 points on Tuesday.

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 13th Dec:

Bank Nifty triggered our long trade and almost completed all targets doing 190 points.

For 14th Dec:

Sustaining above 44025 enter for 44075 - 44130 - 44280, SL 43970

Sustaining below 43865 enter for 43820 - 43760 - 43615, SL 43925

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 make a high of 43983.80 breaking above its weekly resistance of 43760 - 43840 and closed at 43946.55.

Now in the coming session Bank Nifty holding above 43840 can move towards 44050 - 44110 and sustaining above 44110 can go towards its last weekly long target zone of 44290 - 44490. On the downside Bank Nifty has immediate support at 43760 and breaking and sustaining below it can move towards 43510 - 43430.

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.