Bank Nifty Outlook for 21st Apr

 In the previous session:  

Bank Nifty went up by 224 points then went down by 45 points before closing higher by 115 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 20th Apr:

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

For 21st Apr:

Sustaining above 42370 enter for 42430 - 42500 - 42680, SL 42300

Sustaining above 42170 enter for 42110 - 42040 - 41860, SL 42240

In the Previous Week: 

Bank Nifty traded sideways between our long and short trigger point and did not confirm either side with a close .

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 42430 - 42530 for a move towards initial weekly long targets of 42800 - 42870. 

Sustaining or closing above 42870 Bank Nifty may move towards next long targets of 43100 - 43350

On the downside:

Bank Nifty has to sustain and close below its weekly support at 42110 - 42010 for a move towards initial weekly short targets of 41740 - 41670

Sustaining or closing below 41670 Bank Nifty may move towards next short targets of 41440 - 41190

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