In the previous session:
Bank Nifty went up by 56 points then went down by 653 points before closing lower by 216 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 25th Jan:
Bank Nifty triggered our short trade and completed 2 targets doing 370 points
For 29th Jan:
Sustaining above 45140 can move towards 45300 - 45490 - 46000, SL 44950
(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
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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