Bank Nifty Outlook for 20th Dec

 In the previous session:  

Bank Nifty went down by 109 points then went up by 231 points before closing higher by 194 points on Monday.

Bank Nifty made a new lifetime high of 44151.80 on 14th Dec 2022 from the lows of 16116.25 made on 25th March 2020

On 19th Dec:

Bank Nifty triggered our long trade and almost completed 2 targets doing 120 points.

For 20th Dec:

Sustaining above 43525 enter for 43590 - 43670 - 43870, SL 43440

Sustaining below 43305 enter for 43240 - 43160 - 42960, SL 43380

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 43400 - 43510 for a move towards initial long targets of 43810 - 43890. 

Sustaining or closing above 43890 Bank Nifty may move towards next long targets of 44150 - 44440

On the downside:

Bank Nifty has to sustain and close below its immediate support at 43040 - 42930 for a move towards initial short targets of 42630 - 42550. 

Sustaining or closing below 42550 Bank Nifty may move towards next short targets of 42290 - 42000

So far this week Bank Nifty made a low of 43110.30 and bounced back to make a high of 43451.45 testing our weekly resistance zone of 43400 - 43510 and closed at 43413.75

Now in the coming session Bank Nifty has to break and sustain above 43510 to move towards 43810 - 43890. On the downside Bank Nifty has immediate support at 43040 - 42930.

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 44151.80 on 14th 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.