Bank Nifty Outlook for 29th Sep

 In the previous session:

Bank Nifty went up by 168 points then went down by 340 points before closing lower by 287 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 28th Sep:

Bank Nifty triggered our short trade and completed 2 targets doing 160 points and exceeded it by another 60 points.

For 29th Sep:

Sustaining above 44420 can move towards 44490 - 44570 - 44790, SL 44335

Sustaining below 44185 can move towards 44115 - 44030 - 43820, SL 44265

In the Previous Week: 

Bank Nifty triggered our weekly short trade below 46010 and completed all our weekly short targets till 45520 - 45300 doing 700 points and exceeded it further by 750 points making a low of 44548.90 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 44850 - 45000 to move towards its initial weekly long targets of 45400 - 45510. 

Closing above 45510 Bank Nifty may move towards its last weekly long targets of 45860 - 46240

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44370 - 44220 to move towards initial weekly short targets of 43820 - 43710

Closing below 43710 Bank Nifty may move towards its last weekly short targets of 43370 - 43000

So far this week Bank Nifty made a low of 44182.50 breaking our weekly support zone of 44370 - 44220 and closed today at 44300.95.

Now in the coming session Bank Nifty has immediate support at 44220 - 44180 and breaking and sustaining below it we can see a move towards 43820 - 43710. On the upside Bank Nifty above 44420 has immediate resistance at 44600 - 44700 zone.

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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