Bank Nifty Outlook for 20th Apr

  In the previous session:  

Bank Nifty went up by 74 points then went down by 243 points before closing lower by 111 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 19th Apr:

Bank Nifty triggered our short trade and completed 2 targets doing 125 points 

For 20th Apr:

Sustaining above 42250 enter for 42310 - 42380 - 42560, SL 42180

Sustaining above 42050 enter for 42000 - 41930 - 41750, SL 42125

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

So far this week Bank Nifty printed a high of 42603.55 above our weekly resistance zone and then made a low of 41799 breaking our weekly support zone and closed at 42154

Now in the coming session Bank Nifty has immediate resistance at 42300 - 42410 which it needs to break and sustain above for a move towards 42700 - 42780. On the downside Bank Nifty has immediate support at 41960 - 41850 which it needs to break and sustain below for a move towards 41560 - 41480.

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