Bank Nifty Outlook for 15th Jun

 In the previous session:  

Bank Nifty went up by 132 points then went down by 124 points before closing lower by 91 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 14th Jun:

Bank Nifty triggered our short trade but completed just 1 target and then traded sideways 

For 15th Jun:

Sustaining above 44040 enter for 44075 - 44110 - 44210, SL 44000

Sustaining below 43935 enter for 43905 - 43860 - 43770, SL 43975

In the Previous Week: 

Bank Nifty triggered our long trade above 44180 and reached our initial weekly long targets till 44440 - 44510 with a high of  44459.25 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44110 - 44190 for a move towards its initial weekly long targets of 44400 - 44460. 

Sustaining or closing above 44460 Bank Nifty may move towards next long targets of 44640 - 44840

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43860 - 43790 for a move towards its initial weekly short targets of 43580 - 43520

Sustaining or closing below 43520 Bank Nifty may move towards its next short targets of 43340 - 43140

So far this week Bank Nifty has made a high of 44212.35 testing its weekly resistance zone of 44110 - 44190 and reversed sharply to close at 43988

Now in the coming sessions Bank Nifty has to break and sustain / close above 44110 - 44190 zone for a move towards its initial weekly long targets of 44400 - 44460. On the downside Bank Nifty has immediate support at 43860 - 43790 and has to sustain / close below it for correction towards 43580 - 43520.

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