In the previous session:
Bank Nifty went up by 536 points then went down by 155 points before closing lower by 12 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 19th Jan:
Bank Nifty opened near our 1st long and went up but missed our 2nd target and took our stoploss
For 20th Jan:
Sustaining above 45960 can move towards 46120 - 46300 - 46790, SL 45780
In the Previous Week:
Bank Nifty initially triggered our weekly long trade sustaining above 48060 and took our stoploss. Post that Bank Nifty triggered our short trade below 47360 and completed all weekly short targets till 46240 and went much beyond it making a low of 45430
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 46125 - 46385 to move towards its initial weekly long targets of 47105 - 47290
Closing above 47290 Bank Nifty may move towards its last weekly long targets of 47910 - 48590
On the downside:
Bank Nifty has to sustain and close below its weekly support at 45280 - 45020 to move towards its initial weekly short targets of 44300 - 44120
Closing below 44120 Bank Nifty may move towards its last weekly short targets of 43500 - 42810
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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