Bank Nifty Outlook for 20th Sep

 In the previous session:

Bank Nifty went up by 21 points then went down by 325 points before closing lower by 250 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 18th Sep:

Bank Nifty triggered our short trade and almost completed all targets doing 240 points 

For 20th Sep:

Sustaining above 46075 can move towards 46135 - 46200 - 46380, SL 46010

Sustaining below 45885 can move towards 45825 - 45760 - 45580, SL 45950

In the Previous Week: 

Bank Nifty triggered our weekly long trade above 45425 and completed all our weekly long targets till 46025 - 46290 with a high of 46310.40 doing 865 points 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 46370 - 46450 to move towards its initial weekly long targets of 46685 - 46745. 

Closing above 46745 Bank Nifty may move towards its last weekly long targets of 46945 - 47165

On the downside:

Bank Nifty has to sustain and close below its weekly support at 46095 - 46010 to move towards initial weekly short targets of 45780 - 45720

Closing below 45720 Bank Nifty may move towards its last weekly short targets of 45520 - 45300

So far this week Bank Nifty has made a low of 45906.90 breaking below our weekly support zone of 46095 - 46010 and closed at 45979.85 triggering our weekly short trade. Now the cbsl for the weekly short trade is 46165

Now in the coming session Bank Nifty sustaining above 46075 has immediate resistance at 46200 - 46300 on the upside. On the downside Bank Nifty sustaining below 46010 can move towards 45780 - 45720 and sustaining/closing below 45720 can move further towards 45520 - 45300.

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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