Bank Nifty Outlook for 26th Jul

  In the previous session:  

Bank Nifty went up by 233 points then went down by 300 points before closing lower by 78 points on Tuesday.

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 25th Jul:

Bank Nifty initially triggered our long trade and took our stoploss. Post that Bank Nifty reversed to trigger our short trade and completed 2 targets and more doing 180 points

For 26th Jul:

Sustaining above 45950 enter for 46010 - 46085 - 46280, SL 45875

Sustaining below 45740 enter for 45680 - 45600 - 45415, SL 45815

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

So far this week Bank Nifty has made a low of 45622.85 breaking below its weekly support of 45910 - 45800 and closed at 45845 within it.

Now in the coming session Bank Nifty has to sustain and close below 45800 to move towards 45520 - 45440. On the upside Bank Nifty has immediate resistance at 46240 - 46350 and has to break and sustain / above 46350 to move towards 46630 - 46710.

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