Bank Nifty Outlook for 14th Sep

 In the previous session:

Bank Nifty went down by 211 points then went up by 479 points before closing higher by 398 points on Wednesday

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 13th Sep:

Bank Nifty initially triggered our short trade and almost completed 2 targets doing 110 points and took our TSL. Post that Bank Nifty reversed to trigger our long trade and completed all targets doing 320 points and exceeded it by 60 further points

For 14th Sep:

Sustaining above 46000 can move towards 46055 - 46115 - 46280, SL 45935

Sustaining below 45820 can move towards 45765 - 45700 - 45540, SL 45885

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 45990.50 completing our initial weekly long targets of 45710 - 45780 on sustaining above 45425 and closed at 45909.45

Now in the coming session Bank Nifty sustaining above 45780 can move to complete its last weekly long targets of 46025 - 46290. On the downside Bank Nifty has immediate support at 45310 and has to sustain/close below it for further dip towards 45200 - 45100. For the weekly long trade now stoploss would be 45240 on closing basis 

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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 decision