Bank Nifty Outlook for 21st Mar

  In the previous session:  

Bank Nifty went down by 656 points before closing lower by 236 points on Monday

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 20th Mar:

Bank Nifty triggered our short trade and almost completed all targets doing 500 points. 

For 21st Mar

Sustaining above 39520 enter for 39615 - 39730 - 40030, SL 39410

Sustaining below 39200 enter for 39110 - 38990 - 38700, SL 39310

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

So far this week Bank Nifty made a low of 38941.90 breaking below our weekly support zone of 39330 - 39170 but bounced back to close at 39361.95 above the support zone.

Now in the coming session Bank Nifty breaking and sustaining above 39520 can move towards its weekly resistance zone of 39870 - 40030. On the downside Bank Nifty breaking and sustaining below 39170 has immediate support at 38710 - 38600 

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