In the previous session:
Bank Nifty went down by 118 points then went up by 289 points before closing higher by 179 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 22nd Mar:
Bank Nifty triggered our long trade and almost completed all targets doing 200+ points.
For 26th Mar:
Sustaining above 46940 can move towards 46985 - 47045 - 47185, SL 46885
(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
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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