In the previous session:
Bank Nifty went down by 187 points then went up by 123 points before closing lower by 31 points on Friday
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 20th Oct:
Bank Nifty triggered our short trade with a big gap down near our 1st target and took our stoploss
For 23rd Oct:
Sustaining above 43825 can move towards 43890 - 43960 - 44150, SL 43755
In the Previous Week:
Bank Nifty triggered our weekly short trade below 43970 and completed our initial weekly short targets till 43640 - 43550 with a low of 43558.10 doing 400 points
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 43890 - 44000 to move towards its initial weekly long targets of 44280 - 44360.
Closing above 44360 Bank Nifty may move towards its last weekly long targets of 44600 - 44870
On the downside:
Bank Nifty has to sustain and close below its weekly support at 43550 - 43450 to move towards its initial weekly short targets of 43160 - 43090
Closing below 43090 Bank Nifty may move towards its last weekly short targets of 42850 - 42580
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