Wednesday, 29 April 2020

Bank Nifty Spot Outlook for 30th Apr

In the previous session : 



Bank Nifty went down by 277 points then went up by 677 points before closing higher by 419 points on Wednesday as compared to its previous day's  close . 




Bank Nifty had made a life time high of 32613.10 on 30th December and has since then  corrected by 15822 points . 



On 29th Apr :


Bank Nifty triggered our long trade and did 400 points.


For 30th Apr  :

Sustaining above 21365 enter for 21540 - 21730 - 22260 , SL 21175


Sustaining below 20815 enter for 20645 - 20450 - 19925 , SL 21005


Bank Nifty had made a low of 16116.25 on 24th March. 

Bank Nifty made a high of 21462.40 in the bounce from 16116.25 which is where it faced resistance and reversed . Post that Bank Nifty came close to it today with a high of 21348.05 whereas Nifty has been moving up slowly and has gone up around 560 points above the high made on 27th Mar of 9038.90.

As expected Bank Nifty after closing above 20270 yesterday today moved towards 20990 - 21175 and crossed it to make a high of 21348.15 and closed near the upper end of this resistance .

Bank Nifty now has to sustain above 21175 to trigger our intraday long trade and move towards the targets of 21655 - 21730 next. 

Bank Nifty immediate supports have moved to 20520 - 20450 and breaking below it we can see a move towards 20250 - 20000 . 


How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :


  • Bank Nifty longs will get confirmed with a consecutive close above 22080 for a initial target of 23870 - 24520 and sustaining / closing above 24520 we can see a further move till 25160 - 25940 .  

  • Bank Nifty shorts will get confirmed with a consecutive close below 16200 for  a initial target of 14415 - 13770 and sustaining / closing below 13770 we can see a further move till 13130 - 12350.




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Disclaimer : These are my personal views and one should do their own research 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 decisions.

Nifty Spot Outlook for 30th Apr

In the previous session : 



Nifty went up by 219 points before closing higher by 172 points on Wednesday as compared to the previous day's close.




Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 29th Apr :

Nifty triggered our long trade and did 150+ points

For 30th Apr  :

Sustaining above 9620 enter for 9665 - 9710 - 9840 , SL 9575

Sustaining below 9485 enter for 9445 - 9395 - 9265 , SL 9535


Nifty made a low of 7511.10 on 24th March . Since then it has been moving up slowly and closed above 9250 last week . 

As mentioned in the previous post closing above 9330 we were expecting a move towards 9510 - 9555 which got completed today and closed near the upper end of the range . We have our overall resistance near 9650 - 9690 where our monthly long level get triggered which can get tested in the coming session which is also the last session of this month.  

Nifty immediate supports have moved up to 9430 - 9390 now which needs to hold on any corrections and breaking below it we can see a move towards the next support near 9210- 9150 



How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 


For this month :
  • Nifty longs will get confirmed with a consecutive close above 9690 for a target of 10350 - 10590 and sustaining / closing above 10590 we can see a further move till 10830 - 11120.
  • Nifty shorts will get confirmed with a consecutive close below 7510 for  a initial target of 6840 - 6600 and sustaining / closing below 6600 we can see a further move till 6365 - 6075 . 


Expiry Range :

Upper End - 9723

Lower End - 9384





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Disclaimer : These are my personal views and one should do their own research 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 decisions.

Tuesday, 28 April 2020

Bank Nifty Spot Outlook for 29th Apr

In the previous session : 



Bank Nifty went up by 670 points before closing higher by 590 points on Tuesday as compared to its previous day's  close . 




Bank Nifty had made a life time high of 32613.10 on 30th December and has since then  corrected by 15822 points . 



On 28th Apr :


Bank Nifty triggered our long trade and did 400 points.Bank Nifty was stronger Nifty the entire trading session.


For 29th Apr  :

Sustaining above 20940 enter for 21110 - 21300 - 21815 , SL 20755


Sustaining below 20400 enter for 20235 - 20045 - 19530 , SL 20590


Bank Nifty had made a low of 16116.25 on 24th March. 

Bank Nifty made a high of 21462.40 in the bounce from 16116.25 which is where it faced resistance and reversed . Post that Bank Nifty came close to it last week with a high og 21122.10 whereas Nifty has been moving up slowly and has gone up around 300 points above the high made on 27th Mar of 9038.90.

Bank Nifty today closed well above its immediate resistance at 20010 - 20270 and now sustaining above it we can see a move towards 20990 - 21175 where it has its next resistance .

Bank Nifty has to hold its support at 19165 - 18900 on a dip for a bounce to be expected . Sustaining/closing below 18900 we can see a move towards 18180 - 17995 . 


How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :


  • Bank Nifty longs will get confirmed with a consecutive close above 22080 for a initial target of 23870 - 24520 and sustaining / closing above 24520 we can see a further move till 25160 - 25940 .  

  • Bank Nifty shorts will get confirmed with a consecutive close below 16200 for  a initial target of 14415 - 13770 and sustaining / closing below 13770 we can see a further move till 13130 - 12350.




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Disclaimer : These are my personal views and one should do their own research 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 decisions.

Nifty Spot Outlook for 29th Apr

In the previous session : 



Nifty went down by 22 points then went up by 122 points before closing higher by 98 points on Tuesday as compared to the previous day's close.




Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 28th Apr :

Nifty triggered our long trade with a gap up and did not give a chance to take a trade in the morning . Post that it again triggered our long trade and did 50 only points 


For 29th Apr  :

Sustaining above 9445 enter for 9485 - 9530 - 9655 , SL 9400

Sustaining below 9315 enter for 9275 - 9230 - 9105 , SL 9360


Nifty made a low of 7511.10 on 24th March . Since then it has been moving up slowly and closed above 9250 last week . 

Nifty closed above its immediate resistance at 9265 - 9330 today and now sustaining above it we may see a move towards 9510 - 9555 where it would get closer to the resistance of the monthly long levels of 9690 . 

Now in the coming session Nifty needs to hold the support near 9045 - 8980 for a bounce to be expected on any corrections and sustaining/closing below it we can see a move towards 8800 - 8755 zone next.



How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 


For this month :
  • Nifty longs will get confirmed with a consecutive close above 9690 for a target of 10350 - 10590 and sustaining / closing above 10590 we can see a further move till 10830 - 11120.
  • Nifty shorts will get confirmed with a consecutive close below 7510 for  a initial target of 6840 - 6600 and sustaining / closing below 6600 we can see a further move till 6365 - 6075 . 




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Disclaimer : These are my personal views and one should do their own research 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 decisions.

Monday, 27 April 2020

Bank Nifty Spot Outlook for 28th Apr

In the previous session : 



Bank Nifty went up by 638 points before closing higher by 495 points on Monday as compared to its previous day's  close . 




Bank Nifty had made a life time high of 32613.10 on 30th December and has since then  corrected by 15822 points . 



On 27th Apr :


Bank Nifty triggered our long trade and did 350+ points. 


For 28th Apr  :

Sustaining above 20350 enter for 20515 - 20700 - 21210 , SL 20165


Sustaining below 19815 enter for 19650 - 19460 - 18950 , SL 20000


Bank Nifty had made a low of 16116.25 on 24th March. 

Bank Nifty made a high of 21462.40 in the bounce from 16116.25 which is where it faced resistance and reversed . Post that Bank Nifty came close to it last week with a high og 21122.10 whereas Nifty has been moving up slowly and has gone up around 300 points above the high made on 27th Mar of 9038.90.

Bank Nifty has immediate resistance at 20010 - 20270 this week and sustaining above it we can see a move towards 20990 - 21175 where it has its next resistance .

Bank Nifty has to hold its support at 19165 - 18900 on a dip for a bounce to be expected . Sustaining/closing below 18900 we can see a move towards 18180 - 17995 . 


How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :


  • Bank Nifty longs will get confirmed with a consecutive close above 22080 for a initial target of 23870 - 24520 and sustaining / closing above 24520 we can see a further move till 25160 - 25940 .  

  • Bank Nifty shorts will get confirmed with a consecutive close below 16200 for  a initial target of 14415 - 13770 and sustaining / closing below 13770 we can see a further move till 13130 - 12350.




Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              


To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.





Disclaimer : These are my personal views and one should do their own research 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 decisions.

Nifty Spot Outlook for 28th Apr

In the previous session : 



Nifty went up by 222 points before closing higher by 128 points on Monday as compared to the previous day's close.




Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 27th Apr :

Nifty triggered our long trade and did 100+ points 


For 28th Apr  :

Sustaining above 9350 enter for 9390 - 9435 - 9560 , SL 9300

Sustaining below 9215 enter for 9175 - 9130 - 9005 , SL 9265


Nifty made a low of 7511.10 on 24th March . Since then it has been moving up slowly and closed above 9250 last week . 

Nifty has immediate resistance at 9265 - 9330 this week and sustaining / closing above it we may see a move towards 9510 - 9555 where it would get closer to the resistance of the monthly long levels of 9690 . 

Now in the coming session Nifty needs to hold the support near 9045 - 8980 for a bounce to be expected on any corrections and sustaining/closing below it we can see a move towards 8800 - 8755 zone next.



How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 


For this month :
  • Nifty longs will get confirmed with a consecutive close above 9690 for a target of 10350 - 10590 and sustaining / closing above 10590 we can see a further move till 10830 - 11120.
  • Nifty shorts will get confirmed with a consecutive close below 7510 for  a initial target of 6840 - 6600 and sustaining / closing below 6600 we can see a further move till 6365 - 6075 . 




Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      


To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.





Disclaimer : These are my personal views and one should do their own research 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 decisions.

Sunday, 26 April 2020

Bank Nifty Spot Outlook for 27th Apr

In the previous session : 



Bank Nifty went down by 753 points before closing lower by 681 points on Friday as compared to its previous day's  close . 




Bank Nifty had made a life time high of 32613.10 on 30th December and has since then  corrected by 15822 points . 



On 24th Apr :


Bank Nifty triggered our short trade and did 430 points. 


For 27th Apr  :

Sustaining above 19845 enter for 20005 - 20190 - 20680 , SL 19665


Sustaining below 19325 enter for 19170 - 18985 - 18495 , SL 19510


Bank Nifty had made a low of 16116.25 on 24th March. 

Bank Nifty made a high of 21462.40 in the bounce from 16116.25 which is where it faced resistance and reversed . Post that Bank Nifty came close to it last week with a high og 21122.10 whereas Nifty has been moving up slowly and has gone up around 300 points above the high made on 27th Mar of 9038.90.

Bank Nifty has immediate resistance at 20010 - 20270 this week and sustaining above it we can see a move towards 20990 - 21175 where it has its next resistance .

Bank Nifty has to hold its support at 19165 - 18900 on a dip for a bounce to be expected . Sustaining/closing below 18900 we can see a move towards 18180 - 17995 . 


How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :


  • Bank Nifty longs will get confirmed with a consecutive close above 22080 for a initial target of 23870 - 24520 and sustaining / closing above 24520 we can see a further move till 25160 - 25940 .  

  • Bank Nifty shorts will get confirmed with a consecutive close below 16200 for  a initial target of 14415 - 13770 and sustaining / closing below 13770 we can see a further move till 13130 - 12350.




Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              


To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.





Disclaimer : These are my personal views and one should do their own research 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 decisions.