In the previous session:
Bank Nifty went down by 792 points before closing lower by 760 points on Thursday
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 21st Sep:
Bank Nifty triggered our short trade and completed all targets doing 400 points and exceeded it by another 250 points
For 22nd Sep:
Sustaining above 44775 can move towards 44870 - 44975 - 45265, SL 44670
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 44592.45 completing all our weekly short targets on closing below our weekly support zone of 46095 - 46010 in the previous session and gave a move of 700 points and today it gave a further dip of another 700 points.
Now in the coming session Bank Nifty has immediate resistance at 44800 - 45000 on bounce. On the downside Bank Nifty sustaining below 44470 can move towards 44250 - 44150
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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
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