Bank Nifty Outlook for 22nd Mar

  In the previous session:  

Bank Nifty went up by 609 points before closing higher by 533 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 21st Mar:

Bank Nifty triggered our long trade and almost completed all targets doing 450 points. 

For 22nd Mar

Sustaining above 40070 enter for 40180 - 40310 - 40640, SL 39950

Sustaining below 39720 enter for 39610 - 39480 - 39150, SL 39840

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 and bounced back to make a high of 39970.90 testing our weekly resistance zone of 39870 - 40030 and closed at 39894.70 within the resistance zone.

Now in the coming session Bank Nifty has to break and sustain above 40030 to move towards its initial weekly long targets of 40480 - 40600. On the downside Bank Nifty breaking below 39720 has immediate support at 39330 - 39170 on dips which it needs to hold for a bounce.

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