In the previous session:
Bank Nifty went up by 184 points then went down by 405 points before closing lower by 294 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 26th Apr:
Bank Nifty triggered our short trade and completed 2 targets doing 215 points and exceeded it by 30 points .
For 29th Apr:
Sustaining above 48360 can move towards 48450 - 48565 - 48860, SL 48250
(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 47995 and made a high of 48679.65 and completed our initial weekly long targets till 48435 - 48550 doing 550 points and exceeded it by 120 points
Now for this week:
On the upside:
Bank Nifty has to sustain and close above its weekly resistance at 48455 - 48615 to move towards its initial weekly long targets of 49050 - 49160
Closing above 49160 Bank Nifty may move towards its last weekly long targets of 49530 - 49940
On the downside:
Bank Nifty has to sustain and close below its weekly support at 47940 - 47790 to move towards its initial weekly short targets of 47350 - 47240
Closing below 47240 Bank Nifty may move towards its last weekly short targets of 46870 - 46460
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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