Bank Nifty Outlook for 27th Apr

 In the previous session:  

Bank Nifty went down by 246 points then went up by 197 points before closing higher by 151 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 26th Apr:

Bank Nifty initially triggered our short trade and completed 2 targets doing 125 points and took our TSL. Post that Bank Nifty reversed to trigger our long trade and again almost completed 2 targets doing 100 points

For 27th Apr:

Sustaining above 42925 enter for 42980 - 43045 - 43220, SL 42860

Sustaining above 42735 enter for 42680 - 42615 - 42440, SL 42800

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 42875.60 and completed our initial weekly long targets of 42675 - 42750 on sustaining above 42290 - 42390 and closed at 42829.90. 

Now in the coming session Bank Nifty sustaining above 42750 can move to complete our last weekly long targets of 42990 - 43260. On the downside Bank Nifty has immediate support at 42750 - 42675 and has to break and sustain below it to move towards 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.

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