Sunday 31 March 2024

Bank Nifty Outlook for 01st Apr

 

In the previous session:

Bank Nifty went up by 655 points before closing higher by 338 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 28th Mar:

Bank Nifty triggered our long trade and completed all targets doing 255 points and exceeded it by another 360 points

For 01st Apr:

Sustaining above 47210 can move towards 47265 - 47330 - 47490, SL 47150

Sustaining below 47040 can move towards 46985 - 46920 - 46760, SL 47100

(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 and took our stoploss. Post that Bank Nifty reversed to trigger our weekly long trade sustaining above 47070 and completed our initial long targets till 47280 - 47335 with a high of 47440.35 

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 47265 - 47355 to move towards its initial weekly long targets of 47600 - 47660

Closing above 47660 Bank Nifty may move towards its last weekly long targets of 47870 - 48100

On the downside:

Bank Nifty has to sustain and close below its weekly support at 46985 - 46895 to move towards its initial weekly short targets of 46650 - 46590

Closing below 46590 Bank Nifty may move towards its last weekly short targets of 46380 - 46150


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.                              


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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

Saturday 30 March 2024

Nifty Outlook for 01st April

 In the previous session:

Nifty went up by 392 points before closing higher by 203 points on Thursday 

Nifty made a new lifetime high of 22526.60 on 11th Mar 2024 from the lows of 7511.10 made on 24th March 2020

On 28th Mar:

Nifty triggered our long trade and completed all targets doing 135 points and went up further by 206 points on the back of short covering

For 01st Apr:

Sustaining above 22380 can move towards 22415 - 22450 - 22550, SL 22345

Sustaining below 22275 can move towards 22240 - 22200 - 22100, SL 22310

(One should ideally look to exit near the 2nd target once a trade is triggered)

In the Previous Week: 

Nifty triggered our long trade sustaining above 22265 and completed our initial targets till 22435 - 22480 with a high of 22516 doing 200+ points 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 22415 - 22470 to move towards its initial weekly long targets of 22620 - 22655

Closing above 22655 Nifty may move towards its last weekly long targets of 22780 - 22920


On the downside:

Nifty has to sustain and close below its weekly support at 22240 - 22185 to move towards its initial weekly short targets of 22035 - 22000

Closing below 22000 Nifty may move towards its last weekly short targets of 21870 - 21730

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 decisions

Wednesday 27 March 2024

Bank Nifty Outlook for 28th Mar

 

In the previous session:

Bank Nifty went up by 355 points before closing higher by 185 points on Wednesday

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 27th Mar:

Bank Nifty triggered our long trade and completed all targets doing 260 points

For 28th Mar:

Sustaining above 46865 can move towards 46915 - 46970 - 47120, SL 46810

Sustaining below 46705 can move towards 46660 - 46600 - 46450, SL 46760

(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 closing below 46340 and almost reached our last weekly short targets of 45790 - 45660 with a low of 45828.80 doing 500+ points


Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 46990 - 47070 to move towards its initial weekly long targets of 47280 - 47335

Closing above 47335 Bank Nifty may move towards its last weekly long targets of 47520 - 47720

On the downside:

Bank Nifty has to sustain and close below its weekly support at 46740 - 46660 to move towards its initial weekly short targets of 46450 - 46390

Closing below 46390 Bank Nifty may move towards its last weekly short targets of 46210 - 46000

So far this week Bank Nifty made a low of 46529.05 breaking below our weekly support zone of 46740 - 46660 and bounced till 46956.10 and closed at 46785.95 after triggering our weekly short trade. The cbsl for the short trade is 46800 which was saved today. Tomorrow is the last trading day for this truncated week and we will follow a cbsl of 46865 on 15 mins 

Now in the coming session Bank Nifty sustaining below 46705 can move towards 46600 - 46450. On the upside Bank Nifty sustaining above 46865 can move towards 46970 - 47120



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