Bank Nifty Outlook for 08th Sep

 In the previous session:

Bank Nifty went down by 68 points then went up by 506 points before closing higher by 469 points on Thursday 

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 07th Sep:

Bank Nifty triggered our long trade and completed all targets doing 290 points and exceeded it by another 120 points

For 08th Sep:

Sustaining above 44980 can move towards 45040 - 45115 - 45300, SL 44910

Sustaining below 44775 can move towards 44715 - 44645 - 44450, SL 44850

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

So far this week Bank Nifty made a high of 44915.55 nearing our initial weekly long targets of 45010 - 45090 and closed at 44878.35 triggering our weekly long trade. Now stoploss for the weekly long trade would be 44520 on hourly close

Now in the coming session Bank Nifty sustaining above 44715 can move towards 45010 - 45090. On the downside Bank Nifty has immediate support at 44775 and has to break and sustain below it for a move towards 44650 - 44610.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

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