Wednesday 8 July 2020

Bank Nifty Spot Outlook for 09th Jul

In the previous session : 



Bank Nifty went up by 453 points then went up by 128 points before closing lower by 43 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 08th Jul :


Bank Nifty triggered our long trade and completed all targets giving 300 points. 


For 09th Jul :

Sustaining above 22690 enter for 22755 - 22825 - 23025 , SL 22615

Sustaining below 22480 enter for 22415 - 22345 - 22145 , SL 22555





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 10847.85 on 08th 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. 




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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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