Bank Nifty Outlook for 17th Apr

 In the previous session:  

Bank Nifty went down by 55 points then went up by 638 points before closing higher by 574 points on Thursday

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 13th Apr:

Bank Nifty triggered our long trade and completed all targets and more doing 500+ points

For 17th Apr:

Sustaining above 42240 enter for 42300 - 42380 - 42580, SL 42165

Sustaining above 42025 enter for 41960 - 41880 - 41690, SL 42100

In the Previous Week: 

Bank Nifty triggered our long trade on closing above 41350 and made a high of 42196.20 almost completing all our weekly long targets till 42020 - 42330 doing 800 points

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 42300 - 42410 for a move towards initial weekly long targets of 42700 - 42780. 

Sustaining or closing above 42780 Bank Nifty may move towards next long targets of 43030 - 43300

On the downside:

Bank Nifty has to sustain and close below its weekly support at 41960 - 41850 for a move towards initial weekly short targets of 41560 - 41480

Sustaining or closing below 41480 Bank Nifty may move towards next short targets of 41230 - 40950

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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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