Bank Nifty Outlook for 29th Mar

  In the previous session:  

Bank Nifty went down by 105 points then went up by 213 points before closing higher by 136 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 Mar:

Bank Nifty triggered our long trade and completed just 1 target doing 90 points

For 29th Mar

Sustaining above 39680 enter for 39750 - 39830 - 40030, SL 39600

Sustaining below 39450 enter for 39390 - 39310 - 39100, SL 39530

In the Previous Week: 

Bank Nifty traded between our weekly support and resistance zone and did not confirm a trade on closing on either side.

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 39600 - 39720 for a move towards initial weekly long targets of 40060 - 40150. 

Sustaining or closing above 40150 Bank Nifty may move towards next long targets of 40430 - 40760

On the downside:

Bank Nifty has to sustain and close below its weekly support at 39190 - 39070 for a move towards initial weekly short targets of 38730 - 38640

Sustaining or closing below 38640 Bank Nifty may move towards next short targets of 38350 - 38030

So far this week Bank Nifty made a low of 39273.75 and made a high of 39695.20 testing our weekly resistance zone but failed to sustain and closed at 39567.90

Now in the coming session Bank Nifty has immediate support at 39190 - 39070 and has to break and sustain below it for a move towards its weekly initial weekly short targets of 38730 - 38640. On the upside Bank Nifty has immediate resistance at 39600 - 39720 and has to break and sustain above it for a move towards its initial weekly long targets of 40060 - 40150.

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