Bank Nifty Outlook for 06th Jul

 In the previous session:  

Bank Nifty went up by 117 points then went down by 228 points before closing lower by 149 points on Wednesday.

Bank Nifty made a new lifetime high of 45655.50 on 04th Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 05th Jul:

Bank Nifty triggered our short trade and completed 2 targets doing 115 points

For 06th Jul:

Sustaining above 45245 enter for 45300 - 45365 - 45540, SL 45180

Sustaining below 45060 enter for 45000 - 44935 - 44770, SL 45125

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 45655.50 breaking above its weekly resistance zone and almost completed its last weekly long targets of 45550 - 45790 and closed at 45301.45.

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 45000 - 44900 and has to hold it for a bounce else breaking and sustaining below it can correct further towards 44780 - 44670

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 45655.50 on 04th Jul 2023 from the lows of 16116.25 made on 24th March 2020 while Nifty has made a new lifetime high of 19434.15 on 04th Jul 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