Bank Nifty Outlook for 06th Apr

 In the previous session:  

Bank Nifty went down by 10 points then went up by 258 points before closing higher by 186 points on Wednesday

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 05th Apr:

Bank Nifty triggered our long trade and nearly completed 2 target doing 100+ points.

For 06th Apr:

Sustaining above 41120 enter for 41185 - 41265 - 41480, SL 41035

Sustaining above 40880 enter for 40815 - 40730 - 40520, SL 40965

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 41071.15 breaking above our weekly resistance zone at 40830 - 40960 and closed at 40999.15

Now in the coming session Bank Nifty has to sustain above 40960 to move towards its initial weekly long targets at 41330 - 41430. On the downside Bank Nifty has immediate support at 40830 on dips and has to break and sustain below it for a further dip towards at 40600 - 40400

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