In the previous session:
Bank Nifty went down by 47 points then went up by 462 points before closing higher by 420 points on Friday
Bank Nifty made a new lifetime high of 47259.85 on 06th Dec 2023 from the lows of 16116.25 made on 24th March 2020
On 08th Dec:
Bank Nifty triggered our long trade and almost completed 2 targets doing 250 points.
For 11th Dec:
Sustaining above 47465 can move towards 47595 - 47740 - 48130, SL 47325
In the Previous Week:
Bank Nifty opened near our last weekly long trade and moved up further by 1400 points on the back of short covering based on election results in several states
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 47595 - 47805 to move towards its initial weekly long targets of 48380 - 48520
Closing above 48520 Bank Nifty may move towards its last weekly long targets of 49010 - 49550
On the downside:
Bank Nifty has to sustain and close below its weekly support at 46930 - 46720 to move towards its initial weekly short targets of 46150 - 46000
Closing below 46000 Bank Nifty may move towards its last weekly short targets of 45510 - 44970.
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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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