In the previous session:
Bank Nifty went up by 12 points then went down by 480 points before closing lower by 195 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 15th Mar:
Bank Nifty triggered our short trade and completed all targets doing 200 points and exceeded it by 190 points
For 16th Mar:
Sustaining above 46690 can move towards 46750 - 46815 - 46950, SL 46625
(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 above 47370 and reached our last weekly short targets of 46340 - 45870 with a low of 46310.50 doing 1000 points
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 46750 - 46850 to move towards its initial weekly long targets of 47110 - 47180
Closing above 47180 Bank Nifty may move towards its last weekly long targets of 47400 - 47530
On the downside:
Bank Nifty has to sustain and close below its weekly support at 46440 - 46340 to move towards its initial weekly short targets of 46080 - 46000
Closing below 46000 Bank Nifty may move towards its last weekly short targets of 45790 - 45660
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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