In the previous session:
Bank Nifty went down by 30 points then went up by 435 points before closing higher by 271 points on Friday
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 12th Jan:
Bank Nifty triggered our long trade and competed 2 targets doing 160 points and moved up further by 150 points but missed our last target.
For 15th Jan:
Sustaining above 47840 can move towards 47920 - 48020 - 48270, SL 47750
In the Previous Week:
Bank Nifty triggered our weekly short trade sustaining below 47840 and reached its last weekly short targets of 47130 - 46820 with a low of 47010.80
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 47925 - 48060 to move towards its initial weekly long targets of 48430 - 48520
Closing above 48520 Bank Nifty may move towards its last weekly long targets of 48840 - 49190
On the downside:
Bank Nifty has to sustain and close below its weekly support at 47490 - 47360 to move towards its initial weekly short targets of 46990 - 46900
Closing below 46900 Bank Nifty may move towards its last weekly short targets of 46580 - 46240
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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