Bank Nifty Outlook for 13th Jan

 In the previous session:  

Bank Nifty went up by 110 points then went down by 489 points before closing lower by 150 points on Thursday

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 12th Jan:

Bank Nifty triggered our short trade and completed 2 targets and more doing 350 points

For 13th Jan

Sustaining above 42215 enter for 42290 - 42385 - 42630, SL 42120

Sustaining below 41950 enter for 41870 - 41780 - 41530, SL 42045

In the Previous Week: 

Bank Nifty triggered our weekly short trade on closing below 42460 and completed initial weekly long targets till 41910 - 41770 with a low of 41877

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 42380 - 42510 for a move towards initial long targets of 42830 - 42920. 

Sustaining or closing above 42920 Bank Nifty may move towards next long targets of 43200 - 43500

On the downside:

Bank Nifty has to sustain and close below its immediate support at 41990 - 41870 for a move towards initial short targets of 41550 - 41460. 

Sustaining or closing below 41460 Bank Nifty may move towards next short targets of 41200 - 40870

So far this week Bank Nifty broke and sustained above its weekly resistance at 42380 - 42510 and made a high of 42716.80 almost reaching our initial weekly long target of 42830 - 42920 and today reversed to make a low of 41729 breaking our weekly support zone at 41990 - 41870 and closed at 42082.25

Now in the coming session Bank Nifty has immediate resistance at 42380 - 42510 and breaking above it can move towards 42830 - 42920.On the downside Bank Nifty has immediate support at 41990 - 41870 and has to break and sustain below it for a move towards 41550 - 41460.

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.