Bank Nifty Outlook for 27th Feb

  In the previous session:  

Bank Nifty went up by 346 points then went down 182 points before closing lower by 92 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 24th Feb:

Bank Nifty initially triggered our long trade by opening near our 2nd daily target and did not give a trade. Post that Bank Nifty reversed to trigger our short trade and did just 1 target doing 60 points  

For 27th Feb

Sustaining above 40025 enter for 40095 - 40175 - 40390, SL 39945

Sustaining below 39795 enter for 39725 - 39645 - 39425, SL 39875

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

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.