In the previous week :
Bank Nifty went down by 1729 points before ending the week lower by 1555 points compared to its last weekly closing.
Bank Nifty triggered our long trade last week and completed all our targets giving 1850 points .
Bank Nifty had made a life time high of 32613.10 on 30th December and has been trading sideways to negative since then .
Bank Nifty for this week :
- Sustaining above 19730 enter for 19995 - 20210 - 20430
- Further sustaining above 20735 enter for 20920 - 21555 - 22255
- Sustaining below 18865 enter for 18600 - 18385 - 18165
- Further sustaining below 17860 enter for 17675 - 17040 - 16340
As per the above level Bank Nifty has immediate resistance near 19730 - 19995 zone and it has immediate support near 18865 - 18600 zone .
How to use these levels
- For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets
Join our Telegram Channel for live stock trading ideas during market hours " https://t.me/simplytradestocks "
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.
No comments:
Post a Comment