Bank Nifty Outlook for 21st Jul

 In the previous session:  

Bank Nifty went down by 28 points then went up by 586 points before closing higher by 517 points on Thursday.

Bank Nifty made a new lifetime high of 46256.20 on 20th Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 20th Jul:

Bank Nifty triggered our long trade and completed all targets and more doing 450+ points

For 21st Jul:

Sustaining above 46290 enter for 46350 - 46420 - 46600, SL 46220

Sustaining below 46085 enter for 46025 - 45950 - 45760, SL 46155

In the Previous Week: 

Bank Nifty traded mostly between our long and short trigger zones and did not give a confirmation for a trade on either side with a close 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44930 - 45000 for a move towards its initial weekly long targets of 45190 - 45240. 

Sustaining or closing above 45240 Bank Nifty may move towards its last weekly long targets of 45400 - 45580

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44710 - 44640 for a move towards its initial weekly short targets of 44450 - 44400

Sustaining or closing below 44400 Bank Nifty may move towards its last weekly short targets of 44240 - 44060

So far this week Bank Nifty tested its weekly support at 44710 - 44640 with a low of 44695.05 and bounced back sharply to make high of 46256.20 completing all our weekly long targets till 45400 - 45580 and exceeding it on sustaining above 45000 and closed at 46186.90

Now in the coming session Bank Nifty sustaining above 46290 can move towards 46420 - 46600. On the downside Bank Nifty has immediate support at 46000 - 45950 and has to break and sustain below it to move towards 45750 - 45600 .

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 46256.20 on 20th Jul 2023 from the lows of 16116.25 made on 24th March 2020 while Nifty has made a new lifetime high of 19991.85 on 20th 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