In the previous session:
Bank Nifty went down by 158 points then went up by 579 points before closing higher by 446 points on Friday
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 01st Sep:
Bank Nifty initially triggered our short trade and completed just 1 target and took our stoploss. Post that Bank Nifty reversed to trigger our long trade and completed all long targets doing 300 points and exceeded it by another 180 points
For 04th Sep:
Sustaining above 44540 enter for 44610 - 44680 - 44880, SL 44470
In the Previous Week:
Bank Nifty triggered our weekly long trade above 44440 and competed our initial weekly long targets till 44650 - 44710 with a high of 44779.65 and then took our stoploss.
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 44610 - 44715 to move towards its initial weekly long targets of 45010 - 45090.
Closing above 45090 Bank Nifty may move towards its last weekly long targets of 45340 - 45620
On the downside:
Bank Nifty has to sustain and close below its weekly support at 44260 - 44150 to move towards initial weekly short targets of 43860 - 43780
Closing below 43780 Bank Nifty may move towards its last weekly short targets of 43530 - 43260
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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 onl
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