Sunday 31 December 2023

Bank Nifty Outlook for 01st Jan

 

In the previous session:

Bank Nifty went down by 416 points before closing lower by 216 points on Friday

Bank Nifty made a new lifetime high of 48636.45 on 27th Dec 2023 from the lows of 16116.25 made on 24th March 2020

On 29th Dec:

Bank Nifty triggered our short trade and completed 2 targets doing 175 points and exceeded it by another 100 points but fell short of our last target

For 01st Jan:

Sustaining above 48420 can move towards 48500 - 48590 - 48830, SL 48330

Sustaining below 48160 can move towards 48080 - 47990 - 47750, SL 48250

In the Previous Week: 

Bank Nifty triggered our weekly long trade sustaining above 47855 and reached till our last weekly long target zone of 48660 - 49020 with a high of 48636.

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 48500 - 48630 to move towards its initial weekly long targets of 48990 - 49080 

Closing above 49080 Bank Nifty may move towards its last weekly long targets of 49390 - 49730

On the downside:

Bank Nifty has to sustain and close below its weekly support at 48080 - 47950 to move towards its initial weekly short targets of 47590 - 47500

Closing below 47500 Bank Nifty may move towards its last weekly short targets of 47200 - 46860



In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              


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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 decision 

Nifty Outlook for 01st Jan

 In the previous session:

Nifty went down by 101 points before closing lower by 47 points on Friday 

Nifty made a new lifetime high of 21801.45 on 28th Dec 2023 from the lows of 7511.10 made on 24th March 2020

On 29th Dec:

Nifty triggered our short trade and completed just 1 target doing 35 points 

For 01st Jan:

Sustaining above 21785 can move towards 21820 - 21860 - 21960, SL 21745

Sustaining below 21675 can move towards 21645 - 21605 - 21500, SL 21715

In the Previous Week: 

Nifty completed our initial weekly long targets till 21700 - 21750 making a high of 21801 on sustaining above 21520.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 21820 - 21875 to move towards its initial weekly long targets of 22030 - 22070

Closing above 22070 Nifty may move towards its last weekly long targets of 22190 - 22340


On the downside:

Nifty has to sustain and close below its weekly support at 21640 - 21585 to move towards its initial weekly short targets of 21440 - 21390

Closing below 21390 Nifty may move towards its last weekly short targets of 21270 - 21120



In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              


To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.


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

Thursday 28 December 2023

Bank Nifty Outlook for 29th Dec

 

In the previous session:

Bank Nifty went up by354 points before closing higher by 226 points on Thursday

Bank Nifty made a new lifetime high of 48636.45 on 27th Dec 2023 from the lows of 16116.25 made on 24th March 2020

On 28th Dec:

Bank Nifty triggered our long trade and completed 2 targets doing 200 points 

For 29th Dec:

Sustaining above 48640 can move towards 48720 - 48820 - 49070, SL 48550

Sustaining below 48375 can move towards 48295 - 48200 - 47950, SL 48470

In the Previous Week: 

Bank Nifty triggered our weekly short trade below 47825 and missed our last target of 46810 with a low of 46919.70 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 47715 - 47855 to move towards its initial weekly long targets of 48235 - 48335 

Closing above 48335 Bank Nifty may move towards its last weekly long targets of 48660 - 49020

On the downside:

Bank Nifty has to sustain and close below its weekly support at 47270 - 47130 to move towards its initial weekly short targets of 46750 - 46650

Closing below 46650 Bank Nifty may move towards its last weekly short targets of 46350 - 45960

So far this week Bank Nifty has triggered our weekly long trade on sustaining above 47855 and has made a high of 48636.45 completing our initial weekly long targets till 48235 - 48335 and reaching our last weekly long targets of 48660 - 49020 and closed at 48508.55

Now in the coming session Bank Nifty sustaining above 48375 can move towards 48660 - 49020. On the downside Bank Nifty has immediate support at 48335 - 48235 and breaking and sustaining below it can move towards 48000 - 47850

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              


To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.


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 decision