Bank Nifty Outlook for 14th Jul

 In the previous session:  

Bank Nifty went up by 445 points then went down by 27 points before closing higher by 25 points on Thursday.

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 13th Jul:

Bank Nifty triggered our long trade by opening near our last long target and did not give a trade

For 14th Jul:

Sustaining above 44750 enter for 44800 - 44860 - 45020, SL 44690

Sustaining below 44580 enter for 44530 - 44470 - 44310, SL 44640

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 then made a low of 44562.40 breaking below our weekly support zone of 44750 - 44645 and closed at 44665.05

Now in the coming session Bank Nifty has immediate resistance at 44750 and has to break and sustain above it for a move towards 44900 - 45100. On the downside Bank Nifty on sustaining below 44560 can move towards its initial weekly short targets of 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.

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in 6 the 'Subscribe to my posts' section on the top right side of the blog.

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