Bank Nifty Outlook for 03rd Apr

  In the previous session:  

Bank Nifty went up by 780 points before closing higher by 698 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 31st Mar:

Bank Nifty triggered our long trade with a gap up above our last long target for the day and did not give a chance to enter with proper risk reward and went up further by 450 points

For 03rd Apr:

Sustaining above 40740 enter for 40825 - 40920 - 41170, SL 40650

Sustaining above 40475 enter for 40395 - 40300 - 40050, SL 40565

In the Previous Week: 

Bank Nifty triggered our long trade on closing above 39720 and almost completed all our weekly long targets till 40430 - 40760 with a high of 40690 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 40830 - 40960 for a move towards initial weekly long targets of 41330 - 41430. 

Sustaining or closing above 41430 Bank Nifty may move towards next long targets of 41750 - 42100

On the downside:

Bank Nifty has to sustain and close below its weekly support at 40390 - 40250 for a move towards initial weekly short targets of 39890 - 39790

Sustaining or closing below 39790 Bank Nifty may move towards next short targets of 39470 - 39120

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