Bank Nifty Outlook for 13th Apr

  In the previous session:  

Bank Nifty went down by 34 points then went up by 243 points before closing higher by 191 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 12th Apr:

Bank Nifty triggered our long trade and completed 2 targets doing 130 points

For 13th Apr:

Sustaining above 41655 enter for 41715 - 41785 - 41970, SL 41590

Sustaining above 41460 enter for 41400 - 41330 - 41150, SL 41530

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 41610.15 reaching close to our initial weekly long target zone of 41670 - 41750 and closed at 41577.95 

Now in the coming session Bank Nifty has immediate resistance at 41670 - 41750 zone and has to break and sustain above it to move towards its last weekly long targets of 42020 - 42330.On the downside Bank Nifty has immediate support at 41300 and has to break and sustain below it to move towards 41000 - 40800. 

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