Bank Nifty Outlook for 04th Jul

 In the previous session:  

Bank Nifty went up by 605 points before closing higher by 410 points on Monday.

Bank Nifty made a new lifetime high of 45353.20 on 03rd Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 03rd Jul:

Bank Nifty triggered our long trade with a gap up near our 2nd target and then gave a dip till near our entry point and went on to complete all targets and more doing 400+ points

For 04th Jul:

Sustaining above 45245 enter for 45295 - 45355 - 45510, SL 45185

Sustaining below 45075 enter for 45025 - 44960 - 44810, SL 45135

In the Previous Week: 

Bank Nifty triggered our weekly long trade with a close above 43910 and almost completed all targets till 44810 with a high of 44787.10 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44900 - 45000 for a move towards its initial weekly long targets of 45260 - 45330. 

Sustaining or closing above 45330 Bank Nifty may move towards its last weekly long targets of 45550 - 45790

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44590 - 44500 for a move towards its initial weekly short targets of 44240 - 44170

Sustaining or closing below 44170 Bank Nifty may move towards its last weekly short targets of 43950 - 43700

So far this week Bank Nifty made a high of 45353.20 breaking above its weekly resistance zone and completed its initial weekly long targets of 45260 - 45330 and closed at  45158.10.

Now in the coming session Nifty has to break and sustain above 45330 to move towards its last weekly long targets of 45550 - 45790. On the downside Bank Nifty has immediate support at 44900 - 45000.

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 new life time high of 44787.10 on 30th Jun 2023 from the lows of 16116.25 made on 24th March 2020 while Nifty has made a new lifetime high of 19201.70 on 30th Jun 2023 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