In the previous session:
Bank Nifty went up by354 points before closing higher by 226 points on Thursday
Bank Nifty made a new lifetime high of 48636.45 on 27th Dec 2023 from the lows of 16116.25 made on 24th March 2020
On 28th Dec:
Bank Nifty triggered our long trade and completed 2 targets doing 200 points
For 29th Dec:
Sustaining above 48640 can move towards 48720 - 48820 - 49070, SL 48550
In the Previous Week:
Bank Nifty triggered our weekly short trade below 47825 and missed our last target of 46810 with a low of 46919.70
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 47715 - 47855 to move towards its initial weekly long targets of 48235 - 48335
Closing above 48335 Bank Nifty may move towards its last weekly long targets of 48660 - 49020
On the downside:
Bank Nifty has to sustain and close below its weekly support at 47270 - 47130 to move towards its initial weekly short targets of 46750 - 46650
Closing below 46650 Bank Nifty may move towards its last weekly short targets of 46350 - 45960
So far this week Bank Nifty has triggered our weekly long trade on sustaining above 47855 and has made a high of 48636.45 completing our initial weekly long targets till 48235 - 48335 and reaching our last weekly long targets of 48660 - 49020 and closed at 48508.55
Now in the coming session Bank Nifty sustaining above 48375 can move towards 48660 - 49020. On the downside Bank Nifty has immediate support at 48335 - 48235 and breaking and sustaining below it can move towards 48000 - 47850
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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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