Bank Nifty Outlook for 09th Jun

 In the previous session:  

Bank Nifty went up by 183 points then went down by 357 points before closing lower by 280 points on Thursday.

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 08th Jun:

Bank Nifty initially triggered our long trade and almost completed 2 target doing 100 points before taking our TSL. Post that Bank Nifty reversed to trigger our short trade and almost completed all targets doing 250 points

For 09th Jun:

Sustaining above 44080 enter for 44135 - 44195 - 44350, SL 44020

Sustaining below 43910 enter for 43860 - 43790 - 43640, SL 43970

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 44459.25 reaching its initial weekly long targets of 44440 - 44510 and reversed sharply to close at 43995.25 

Now in the coming sessions Bank Nifty has immediate resistance at 44090 - 44180 and needs to break and sustain above it for further gains else can correct again. On the downside Bank Nifty breaking and sustaining below 43910  has immediate support at 43790 - 43690.

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