In the previous session:
Bank Nifty went up by 568 points before closing higher by 531 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 11th Apr:
Bank Nifty triggered our long trade with a gap up near our last daily target and gave a good dip to enter near our 1st target and then moved up by 300 points completing all targets and more
For 12th Apr:
Sustaining above 41470 enter for 41530 - 41600 - 41790, SL 41395
Sustaining above 41260 enter for 41200 - 41130 - 40940, SL 41335
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 had earlier tested our weekly support zone of 40850 - 40730 with a low of 40727.25 and has now made a high of 41403.25 breaking above our weekly resistance zone of 41230 - 41350 and closed at 41366.50
Now in the coming session Bank Nifty has to sustain above 41350 to move towards our initial weekly long targets of 41670 - 41750. On the downside Bank Nifty has immediate support at 40950 and has to break and sustain below 40950 to move towards 40700 - 40500.
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
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