In the previous session:
Bank Nifty went up by 479 points before closing higher by 414 points on Monday
Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 24th March 2020
On 11th Sep:
Bank Nifty triggered our long trade with a gap up above our 1st target and completed all targets doing 260 points and exceeded it by another 50 points
For 12th Sep:
Sustaining above 45680 can move towards 45740 - 45830 - 46030, SL 45600
In the Previous Week:
Bank Nifty triggered our weekly long trade above 44715 and reached our last weekly long targets till 45340 - 45620 with a high of 45383.35 doing 600+ points.
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 45325 - 45425 to move towards its initial weekly long targets of 45710 - 45780.
Closing above 45780 Bank Nifty may move towards its last weekly long targets of 46025 - 46290
On the downside:
Bank Nifty has to sustain and close below its weekly support at 44990 - 44890 to move towards initial weekly short targets of 44610 - 44530
Closing below 44530 Bank Nifty may move towards its last weekly short targets of 44290 - 44020
So far this week Bank Nifty made a high of 45636.20 almost reaching our initial weekly long targets of 45710 - 45780 on sustaining above 45425 and closed at 45570.70.
Now in the coming session Bank Nifty sustaining above 45425 can move to complete its initial weekly long targets of 45710 - 45780. On the downside Bank Nifty has immediate support at 45310 and to break and sustain below it for further dip towards 45200 - 45100. For the weekly long trade now stoploss would be 45240 on closing basis
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 and does not constitute advice in any form in the furtherance of any trade or trading decision
No comments:
Post a Comment