Bank Nifty Outlook for 20th Jun

 In the previous session:  

Bank Nifty went up by 102 points then went down by 436 points before closing lower by 304 points on Monday.

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 19th Jun:

Bank Nifty triggered our short trade and completed all targets doing 330 points

For 20th Jun:

Sustaining above 43745 enter for 43810 - 43890 - 44090, SL 43665

Sustaining below 43525 enter for 43460 - 43380 - 43180, SL 43600

In the Previous Week: 

Bank Nifty triggered our short trade below 43790 and nearly touched our last weekly short target zone of 43340 - 43140 with a low of 43397.50 and bounced sharply on Friday

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44110 - 44220 for a move towards its initial weekly long targets of 44500 - 44580. 

Sustaining or closing above 44580 Bank Nifty may move towards its last weekly long targets of 44830 - 45100

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43770 - 43660 for a move towards its initial weekly short targets of 43370 - 43290

Sustaining or closing below 43290 Bank Nifty may move towards its last weekly short targets of 43050 - 42770

Today Bank Nifty made a high of 44040.35 and reversed to make a low of 43501.40 breaking below our weekly support zone of 43770 - 43660 and closed at 43633.75 just below it.

Now in the coming session Bank Nifty sustaining below 43660 can move towards its initial weekly short targets of 43370 - 43290. On the upside Bank Nifty breaking and sustaining above 43750 has immediate resistance at 44110 - 44220.

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