Bank Nifty Outlook for 11th Apr

 In the previous session:  

Bank Nifty went up by 98 points then went down by 313 points before closing lower by 206 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 10th Apr:

Bank Nifty triggered our short trade and completed 2 targets and more doing 190 points.

For 11th Apr:

Sustaining above 40940 enter for 41000 - 41075 - 41270, SL 40865

Sustaining above 40720 enter for 40670 - 40590 - 40400, SL 40800

In the Previous Week: 

Bank Nifty triggered our long trade on closing above 40960 and made a high of 41274.70 doing almost 300 points but missed our initial long targets of 41300 - 41430  

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 41230 - 41350 for a move towards initial weekly long targets of 41670 - 41750. 

Sustaining or closing above 41750 Bank Nifty may move towards next long targets of 42020 - 42330

On the downside:

Bank Nifty has to sustain and close below its weekly support at 40850 - 40730 for a move towards initial weekly short targets of 40410 - 40330

Sustaining or closing below 40330 Bank Nifty may move towards next short targets of 40060 - 39760

So far this week Bank Nifty made a high of 41139.85 and reversed to make a low of 40727.25 testing our weekly support zone of 40850 - 40730 and closed at 40834.65

Now in the coming session Bank Nifty has to break and sustain or close below 40730 to move towards 40410 - 40330. On the upside Bank Nifty has immediate resistance at 41230 - 41350 which it needs to break and sustain or close above for a move towards 41670 - 41750.

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