Bank Nifty Outlook for 24th Jul

  In the previous session:  

Bank Nifty went up by 182 points then went down by 261 points before closing lower by 111 points on Friday.

Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 21st Jul:

Bank Nifty triggered our long trade with a gap up above our 1st target and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets doing 150 points

For 24th Jul:

Sustaining above 46180 enter for 46240 - 46315 - 46510, SL 46105

Sustaining below 45970 enter for 45910 - 45835 - 45640, SL 46045

In the Previous Week: 

Bank Nifty triggered our weekly long trade on closing above 45000 and completed all weekly long targets till 45400 - 45580 and exceeded it with a high of 46369.50 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 46240 - 46350 for a move towards its initial weekly long targets of 46630 - 46710. 

Sustaining or closing above 46710 Bank Nifty may move towards its last weekly long targets of 46950 - 47220

On the downside:

Bank Nifty has to sustain and close below its weekly support at 45910 - 45800 for a move towards its initial weekly short targets of 45520 - 45440

Sustaining or closing below 45440 Bank Nifty may move towards its last weekly short targets of 45200 - 44930

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 46369.50 on 21st 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