Bank Nifty Outlook for 05th Apr

 In the previous session:  

Bank Nifty went down by 72 points then went up by 248 points before closing higher by 204 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 03rd Apr:

Bank Nifty triggered our long trade and completed just 1 target doing 85 points.

For 05th Apr:

Sustaining above 40940 enter for 41015 - 41110 - 41340, SL 40850

Sustaining above 40685 enter for 40610 - 40520 - 40290, SL 40775

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

So far this week Bank Nifty has made a low of 40535.90 and made a high of 40857.60 testing our weekly resistance zone at 40830 - 40960 and closed at 40813.05

Now in the coming session Bank Nifty has immediate resistance at 40830 - 40960 and has to break and sustain above it for a further move towards 41330 - 41430. On the downside Bank Nifty has immediate support at 40500 and below it at 40390 - 40250 on dips.

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