In the previous session:
Bank Nifty went up by 106 points then went down by 218 points before closing lower by 130 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 07th Mar:
Bank Nifty traded sideways between our long and short trigger levels
For 11th Mar:
Sustaining above 48010 can move towards 48120 - 48245 - 48570, SL 47890
(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 sustaining/closing above 47790 but failed to complete any targets and went sideways
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 48125 - 48300 to move towards its initial weekly long targets of 48790 - 48915
Closing above 48915 Bank Nifty may move towards its last weekly long targets of 49330 - 49800
On the downside:
Bank Nifty has to sustain and close below its weekly support at 47550 - 47370 to move towards its initial weekly short targets of 46880 - 46750
Closing below 46750 Bank Nifty may move towards its last weekly short targets of 46340 - 45870
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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