Bank Nifty Outlook for 24th Apr

In the previous session:  

Bank Nifty went up by 112 points then went down by 307 points before closing lower by 150 points on Friday

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 21st Apr:

Bank Nifty triggered our short trade and completed 2 targets and more doing 170+ points 

For 24th Apr:

Sustaining above 42220 enter for 42280 - 42360 - 42550, SL 42150

Sustaining above 42010 enter for 41960 - 41880 - 41690, SL 42090

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 42290 - 42390 for a move towards initial weekly long targets of 42675 - 42750. 

Sustaining or closing above 42750 Bank Nifty may move towards next long targets of 42990 - 43260

On the downside:

Bank Nifty has to sustain and close below its weekly support at 41950 - 41840 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 41240 - 40970

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