Wednesday, 24 June 2020

Bank Nifty Spot Outlook for 25th Jun

In the previous session : 

Bank Nifty went up by 215 points then went down by 928 points before closing lower by 838 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 24th Jun :

Bank Nifty triggered our long trade and took our stoploss . Post that Bank Nifty then reversed to trigger our short trade and did 729 points 

For 25th Jun :

Sustaining above 21635 enter for 21760 - 21905 - 22295 , SL 21490

Sustaining below 21220 enter for 21095 - 20950 - 20560 , SL 21365

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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

Bank Nifty has made a high of 22322.3 on 23rd Jun in the bounce from the fall till 16116.25  while Nifty has made a high of 10484.70 from the lows of 7511 

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. 

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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.

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