Bank Nifty Outlook for 26th Jul

 In the previous session:  

Bank Nifty went down by 205 points then went up by 99 points before closing lower by 102 points on Friday.

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 23rd Jun:

Bank Nifty initially triggered our short trade and completed just 1 target and took our stoploss. After days of sideways moves we can now see a trending move next week

For 26th Jun:

Sustaining above 43730 enter for 43795 - 43870 - 44075, SL 43655

Sustaining below 43515 enter for 43450 - 43375 - 43180, SL 43590

In the Previous Week: 

Bank Nifty triggered our short trade below 43660 and then went sideways between our weekly support and resistance zone

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 43800 - 43910 for a move towards its initial weekly long targets of 44200 - 44280. 

Sustaining or closing above 44280 Bank Nifty may move towards its last weekly long targets of 44530 - 44810

On the downside:

Bank Nifty has to sustain and close below its weekly support at 43450 - 43340 for a move towards its initial weekly short targets of 43040 - 42960

Sustaining or closing below 42960 Bank Nifty may move towards its last weekly short targets of 42710 - 42430

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