Bank Nifty Outlook for 08th Jun

 In the previous session:  

Bank Nifty went up by 181 points then went down by 21 points before closing higher by 110 points on Wednesday.

Bank Nifty made a new lifetime high of 44498.60 on 30th May 2023 from the lows of 16116.25 made on 25th March 2020

On 07th Jun:

Bank Nifty triggered our long trade and completed just 1 target

For 08th Jun:

Sustaining above 44360 enter for 44415 - 44475 - 44640, SL 44300

Sustaining below 44190 enter for 44135 - 44075 - 43910, SL 44250

In the Previous Week: 

Bank Nifty triggered our long trade and completed our initial weekly long targets and then took our stoploss 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44090 - 44180 for a move towards its initial weekly long targets of 44440 - 44510. 

Sustaining or closing above 44510 Bank Nifty may move towards next long targets of 44730 - 44970

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43790 - 43690 for a move towards its initial weekly short targets of 43440 - 43370

Sustaining or closing below 43370 Bank Nifty may move towards its next short targets of 43150 - 42910

So far this week Bank Nifty has made a high of 44266.15 breaking above its weekly resistance zone of 44090 - 44180 and closed at 44275.30

Now in the coming sessions Bank Nifty sustaining above 44180 can move towards its initial weekly long targets of 44440 - 44510. On the downside Bank Nifty has immediate support at 44130 and sustaining below it can move towards 44075 - 44000

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 44498.60 on 30th May 2023 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