Bank Nifty Outlook for 11th Jul

 In the previous session:  

Bank Nifty went up by 259 points then went down by 203 points before closing lower by 64 points on Monday.

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 10th Jul:

Bank Nifty triggered our long trade and completed 2 targets doing 150 points

For 11th Jul:

Sustaining above 44970 enter for 45035 - 45110 - 45310, SL 44895

Sustaining below 44750 enter for 44690 - 44610 - 44410, SL 44830

In the Previous Week: 

Bank Nifty triggered our weekly long trade with a close above 45000 and made a high if 45655.50 almost completing all weekly long targets till 45550 - 45790 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45100 - 45205 for a move towards its initial weekly long targets of 45500 - 45575. 

Sustaining or closing above 45575 Bank Nifty may move towards its last weekly long targets of 45830 - 46110

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44750 - 44645 for a move towards its initial weekly short targets of 44350 - 44275

Sustaining or closing below 44275 Bank Nifty may move towards its last weekly short targets of 44020 - 43740

So far this week Bank Nifty has made a high of 45184.30 testing our weekly resistance zone of 45100 - 45205 and closed at 44860.85.

Now in the coming session Bank Nifty has immediate resistance at 45100 - 45205 and has to break and sustain above it for a further move towards 45500 - 45575. On the downside Bank Nifty has immediate support at 44750 - 44645 and has to break and sustain below it for a move towards 44350 - 44275

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 19523.60 on 07th 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