In the previous session:
Bank Nifty went up by 325 points then went down by 196 points before closing lower by 108 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 23rd Feb:
Bank Nifty triggered our long trade and almost completed 2 targets doing 170 points and then took our trailing stoploss
For 26th Feb:
Sustaining above 46915 can move towards 46975 - 47050 - 47240, SL 46845
(One should ideally look to exit near the 2nd target once the trade is triggered)
In the Previous Week:
Bank Nifty triggered our weekly long trade above 46905 but fell short of our initial weekly long targets of 47455 - 47595 with a high of 47363.40
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 46980 - 47080 to move towards its initial weekly long targets of 47370 - 47440
Closing above 47440 Bank Nifty may move towards its last weekly long targets of 47680 - 47950
On the downside:
Bank Nifty has to sustain and close below its weekly support at 46645 - 46540 to move towards its initial weekly short targets of 46255 - 46180
Closing below 46180 Bank Nifty may move towards its last weekly short targets of 45940 - 45670
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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