Bank Nifty Outlook for 01st Mar

 In the previous session:  

Bank Nifty went up by 84 points then went down 234 points before closing lower by 38 points on Tuesday

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 28th Feb:

Bank Nifty triggered our short trade and did 100 points

For 01st Mar

Sustaining above 40385 enter for 40455 - 40540 - 40760, SL 40305

Sustaining below 40155 enter for 40085 - 40000 - 39780, SL 40235

In the Previous Week: 

Bank Nifty triggered our short trade with a close below 40895 and completed all our weekly short targets till 40380 - 40145 and exceeded it with a low of 39600.25  

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 40100 - 40215 for a move towards initial long targets of 40530 - 40615. 

Sustaining or closing above 40615 Bank Nifty may move towards next long targets of 40885 - 41190

On the downside:

Bank Nifty has to sustain and close below its immediate support at 39720 - 39605 for a move towards initial short targets of 39290 - 39205

Sustaining or closing below 39205 Bank Nifty may move towards next short targets of 38930 - 38630

So far this week Bank Nifty made a low of 39745.40 just above our weekly support zone of 39720 - 39605 and bounced back sharply to make a high of 40391.45  breaking above our weekly resistance zone of 40100 - 40215 and closed above it at 40269.05

Now in the coming session Bank Nifty has to sustain above 40215 to move towards 40530 - 40615. On the downside Bank Nifty has immediate support at 40100 and breaking and sustaining below it Bank Nifty can move towards it support zone at 39720 - 39605.

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.

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 6 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.