Bank Nifty Outlook for 14th Feb

 

In the previous session:

Bank Nifty went down by 62 points then went up by 868 points before closing higher by 620 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 13th Feb:

Bank Nifty triggered our long trade and completed all targets doing 585 points and exceeded it further by 100 points 

For 14th Feb:

Sustaining above 45690 can move towards 45800 - 45935 - 46285, SL 45560

Sustaining below 45315 can move towards 45200 - 45070 - 44720, SL 45445

(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/closing below 45480 and completed our initial targets till 44960 - 44830 with a low of 44859.15 and then our stoploss

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45900 - 46060 to move towards its initial weekly long targets of 46510 - 46620 

Closing above 46620 Bank Nifty may move towards its last weekly long targets of 47010 - 47430

On the downside:

Bank Nifty has to sustain and close below its weekly support at 45370 - 45210 to move towards its initial weekly short targets of 44760 - 44650

Closing below 44650 Bank Nifty may move towards its last weekly short targets of 44270 - 43840

So far this week Bank Nifty has made a low of 44633.85 completing its initial weekly short targets of 44760 - 44650 breaking and sustaining below its weekly support of 45370 - 45210 and today took our trailing hourly cbsl of 45330 and moved up by 400 points.

Now in the coming session Bank Nifty sustaining above 45690 can move towards 45900 - 46060. On the downside Bank Nifty sustaining below 45315 can move towards 45070 - 44850.

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