Thursday 16 July 2020

Bank Nifty Outlook for 17th Jul

In the previous session : 



Bank Nifty went down by 313 points then went up by 330 points before closing higher by 256 points on Thursday 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 16th Jul :

Bank Nifty initially triggered our short trade and did 177 points and took our stoploss . Post that it reversed and triggered our long trade and did 196 points . 





For 17th Jul :


Sustaining above 21740 enter for 21830 - 21930 - 22200 , SL 21640






Sustaining below 21455 enter for 21365 - 21265 - 20995 , SL 21555



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 23080.60 on 08th July in the bounce from the fall till 16116.25  while Nifty has made a high of 10894.05 on 13th July 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. 





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.

No comments:

Post a Comment