In the previous session:
Bank Nifty went down by 811 points before closing lower by 740 points on Friday.
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 23rd Dec:
Bank Nifty opened near our last daily short target and did not give a trade. Had posted revised levels on telegram based on which it completed 2 targets doing 200+ points.
For 26th Dec:
Sustaining above 41800 enter for 41880 - 41980 - 42230, SL 41710
In the Previous Week:
Bank Nifty triggered our weekly short trade on closing below 42930 and completed all weekly short targets till 42000 and exceeded it with a low of 41597.65
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its immediate resistance at 41890 - 42020 for a move towards initial long targets of 42390 - 42490.
Sustaining or closing above 42490 Bank Nifty may move towards next long targets of 42810 - 43160
On the downside:
Bank Nifty has to sustain and close below its immediate support at 41450 - 41310 for a move towards initial short targets of 40940 - 40840.
Sustaining or closing below 40840 Bank Nifty may move towards next short targets of 40530 - 40170
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: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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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