In the previous session:
Bank Nifty went down by 99 points then went up by 487 points before closing higher by 411 points on Friday
Bank Nifty made a new lifetime high of 48219.95 on 15th Dec 2023 from the lows of 16116.25 made on 24th March 2020
On 15th Dec:
Bank Nifty triggered our long trade and completed 2 targets doing 270 points
For 18th Dec:
Sustaining above 48265 can move towards 48340 - 48425 - 48650, SL 48180
In the Previous Week:
Bank Nifty triggered our weekly long trade above 47805 but fell short of its initial targets of 48380 - 48520 by making a high of 48219.95
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 48340 - 48460 to move towards its initial weekly long targets of 48800 - 48880
Closing above 48880 Bank Nifty may move towards its last weekly long targets of 49170 - 49480
On the downside:
Bank Nifty has to sustain and close below its weekly support at 47950 - 47825 to move towards its initial weekly short targets of 47490 - 47400
Closing below 47400 Bank Nifty may move towards its last weekly short targets of 47120 - 46810.
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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