Bank Nifty went down by 65 points then went up by 365 points before closing higher by 330 points on Thursday.
Bank Nifty made a new life time high of 37708.75 in this upmove from the lows of 16116.25 made on 24th March
On 10th Jun:
Bank Nifty triggered our long trade and missed our last target still doing 225 points .
For 11th Jun :
Sustaining above 35275 enter for 35330 – 35385 – 35590 , SL 35165
Sustaining below 34990 enter for 34930 – 34880 – 34670 , SL 35100
Now for this week :
Bank Nifty has immediate resistance near 35460 – 35560 and sustaining or closing above we can see a further move towards 35845 – 35915 zone
Bank Nifty has immediate support near 35125 – 35025 and sustaining or closing below that we can see a move towards 34740 – 34670 zone
So far this week Bank Nifty has made a high of 35545.85 within our immediate resistance zone .Post that Bank Nifty corrected till 34641.20 testing our next support zone and has now bounced back to close above the initial support zone . Now Bank Nifty has to sustain above 35125 to make a move towards 35460 – 35560 again .
As long as Bank Nifty is closing above 34170 on dips we can see it bounce back. On the upside Bank Nifty can see some selling pressure near 36170 – 36300.
In the month of May Bank Nifty made a high of 35584.30 and made a low of 31906.55 .
Now in June Bank Nifty has to give a consecutive close above 36560 for a stronger upmove . On the downside Bank Nifty has to give a consecutive close below 34490 for a stronger correction.
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel “simplytradestocks” .
Bank Nifty has now made a high of 37708.75 on 16th Feb 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 15606.35 on 31st May 2021 from the lows of 7511 made on 24th March 2020.
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