Bank Nifty Outlook for 26th Apr

 In the previous session:  

Bank Nifty went down by 34 points then went up by 230 points before closing higher by 42 points on Tuesday

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 25th Apr:

Bank Nifty triggered our long trade and completed 2 targets doing 120 points 

For 26th Apr:

Sustaining above 42770 enter for 42825 - 42895 - 43070, SL 42705

Sustaining above 42585 enter for 42530 - 42460 - 42290, SL 42650

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

So far this week Bank Nifty made a high of 42865.55 and completed our initial weekly long targets of 42675 - 42750 on sustaining above 42290 - 42390 and closed at 42678.50. 

Now in the coming session Bank Nifty has to break and sustain above 42750 for a further move towards its last weekly long targets of 42990 - 43260. On the downside Bank Nifty breaking and sustaining below 42580 has immediate support at 42390 - 42290.

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