In the previous session:
Bank Nifty went up by 10 points then went down by 430 points before closing lower by 83 points on Wednesday
Nifty made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511.10 made on 24th March 2020
On 09th Aug:
Bank Nifty triggered our short trade and completed 2 targets and more doing 300 points
For 10th Aug:
Sustaining above 45195 enter for 45390 - 45610 - 46210, SL 44975
In the Previous Week:
Nifty triggered our short trade and completed all our weekly short targets till 44620 - 44360 and exceeded it with a low of 44279.40.
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 45070 - 45200 to move towards its initial weekly long targets of 45530 - 45610.
Closing above 45610 Bank Nifty may move towards its last weekly long targets of 45900 - 46200
On the downside:
Bank Nifty has to sustain and close below its weekly support at 44680 - 44560 to move towards initial weekly short targets of 44230 - 44150
Closing below 44150 Bank Nifty may move towards its last weekly short targets of 43860 - 43550
So far this week Bank Nifty has made a high of 45096.85 testing our weekly resistance zone of 45070 - 45200 and today made a low of 44533.75 breaking our weekly support zone and closed at 44880.70. Now in the coming session Bank Nifty has immediate resistance at 45070 - 45200 and has to break and sustain above it for a move towards 45530 - 45610. On the downside Bank Nifty has immediate support at 44680 - 44560 and has to break and sustain below it for a move towards 44230 - 44150
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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
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