In the previous session:
Bank Nifty went down by 509 points before closing lower by 422 points on Friday
Bank Nifty made a new lifetime high of 49057.40 on 10th Apr 2024 from the lows of 16116.25 made on 24th March 2020
On 12th Apr:
Bank Nifty triggered our short trade and completed all targets doing 200 points and exceeded it by 225 points
For 15th Apr:
Sustaining above 48670 can move towards 48730 - 48800 - 48990, SL 48590
(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 48730 and completed our initial targets till 48980 - 49050 with a high of 49057.40
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 48730 - 48840 to move towards its initial weekly long targets of 49120 - 49200
Closing above 49200 Bank Nifty may move towards its last weekly long targets of 49440 - 49700
On the downside:
Bank Nifty has to sustain and close below its weekly support at 48390 - 48290 to move towards its initial weekly short targets of 48000 - 47930
Closing below 47930 Bank Nifty may move towards its last weekly short targets of 47700 - 47420
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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