Bank Nifty Outlook for 01st Feb

 

In the previous session:

Bank Nifty went down by 296 points then went up by 812 points before closing higher by 629 points on Wednesday

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 31st Jan:

Bank Nifty triggered our long trade and completed 2 targets doing 370 points and exceeded it by 150 points

For 01st Feb:

Sustaining above 46185 can move towards 46300 - 46435 - 46790, SL 46055

Sustaining below 45810 can move towards 45695 - 45560 - 45210, SL 45940

(One should ideally look to exit near the 2nd target once the trade is triggered)

In the Previous Week: 

Bank Nifty triggered our weekly short trade sustaining below 45020 and almost reached our initial short targets of 44300 - 44120 with a low of 44429 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45310 - 45585 to move towards its initial weekly long targets of 46340 - 46535 

Closing above 46535 Bank Nifty may move towards its last weekly long targets of 47180 - 47900

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44425 - 44150 to move towards its initial weekly short targets of 43390 - 43200

Closing below 43200 Bank Nifty may move towards its last weekly short targets of 42550 - 41850

So far this week Bank Nifty has made a high of 46179.75 breaking above our weekly resistance and closed at 45996.80 triggering our weekly long trade. The cbsl for the weekly long trade triggered is 45090.

Now in the coming session Bank Nifty sustaining above 46185 can move towards 46340 - 46535. On the downside Bank Nifty sustaining below 45810 can move towards 45560 - 45310

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.                              

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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 

Nifty Outlook for 01st Feb

 In the previous session:

Nifty went down by 73 points then went up by 219 points before closing higher by 204 points on Wednesday 

Nifty made a new lifetime high of 22124.15 on 16th Jan 2024 from the lows of 7511.10 made on 24th March 2020

On 31st Jan:

Nifty triggered our long trade and almost completed 2 targets doing 120 points 

For 01st Feb:

Sustaining above 21815 can move towards 21865 - 21925 - 22080, SL 21750

Sustaining below 21640 can move towards 21590 - 21525 - 21370, SL 21700

(One should ideally look to exit near the 2nd target once a trade is triggered)

In the Previous Week: 

Nifty initially triggered our weekly short trade below 21420 and completed our initial targets till 21210 - 21150 with a low of 21137.20 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 21490 - 21570 to move towards its initial weekly long targets of 21800 - 21860

Closing above 21860 Nifty may move towards its last weekly long targets of 22060 - 22280

On the downside:

Nifty has to sustain and close below its weekly support at 21220 - 21130 to move towards its initial weekly short targets of 20900 - 20840

Closing below 20840 Nifty may move towards its last weekly short targets of 20650 - 20430

So far this week Nifty has made a high of 21813.05 reaching its initial weekly long target zone of 21800 - 21860 after triggering our weekly long trade in the previous session. The cbsl for the weekly long trade is 21420 which has so far been saved.

Now in the coming session Nifty sustaining above 21815 can move up further towards 21860 - 21920. On the downside Nifty sustaining below 21640 can move again towards 21570 - 21500

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 decisions

Bank Nifty Outlook for 31st Jan

 

In the previous session:

Bank Nifty went up by 236 points then went down by 236 points before closing lower by 74 points on Tuesday

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 30th Jan:

Bank Nifty traded sideways between our long and short trigger points

For 31st Jan:

Sustaining above 45650 can move towards 45820 - 46020 - 46550, SL 45455

Sustaining below 45085 can move towards 44915 - 44715 - 44180, SL 45280

(One should ideally look to exit near the 2nd target once the trade is triggered)

In the Previous Week: 

Bank Nifty triggered our weekly short trade sustaining below 45020 and almost reached our initial short targets of 44300 - 44120 with a low of 44429 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45310 - 45585 to move towards its initial weekly long targets of 46340 - 46535 

Closing above 46535 Bank Nifty may move towards its last weekly long targets of 47180 - 47900

On the downside:

Bank Nifty has to sustain and close below its weekly support at 44425 - 44150 to move towards its initial weekly short targets of 43390 - 43200

Closing below 43200 Bank Nifty may move towards its last weekly short targets of 42550 - 41850

So far this week Bank Nifty has made a high of 45678.70 breaking above our weekly resistance and closed at 45367.75 below our resistance zone

Now in the coming session Bank Nifty sustaining below 45085 can move towards 44715 - 44425. On the upside Bank Nifty sustaining above 45650 can move towards 46020 - 46340 

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