Bank Nifty Outlook for 20th Mar

 In the previous session:  

Bank Nifty went down by 205 points then went up by 572 points before closing higher by 465 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 17th Mar:

Bank Nifty initially triggered our long trade with a gap up above our 2nd target and did not give a chance to enter. Post that after a good dip Bank Nifty again triggered our long trade and completed 2 targets and more doing 350+ points

For 20th Mar

Sustaining above 39760 enter for 39860 - 39980 - 40280, SL 39650

Sustaining below 39440 enter for 39340 - 39220 - 38910, SL 39550

In the Previous Week: 

Bank Nifty triggered our short trade on closing below 40020 and completed all our weekly short targets till 39000 - 38550 with a low of 38613.15 doing 1400 points  

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its immediate resistance at 39870 - 40030 for a move towards initial long targets of 40480 - 40600. 

Sustaining or closing above 40600 Bank Nifty may move towards next long targets of 40990 - 41400

On the downside:

Bank Nifty has to sustain and close below its immediate support at 39330 - 39170 for a move towards initial short targets of 38710 - 38600

Sustaining or closing below 38600 Bank Nifty may move towards next short targets of 38210 - 37800

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