Bank Nifty Spot Outlook for 01st Sep

  In the previous session : 

Bank Nifty went up by 709 points then went down by 1139 points before closing lower by 770 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 31st Aug :

Bank Nifty triggered our long trade with a gap up above our last target and did not give a chance to enter a long trade. Post that it reversed to trigger our short trade and and completed all targets exceeding it by 600 points giving 1000 points.

 

For 01st Sep :

Sustaining above 23930 enter for 24035 - 24160 - 24490 , SL 23805

Sustaining below 23580 enter for 23475 - 23350 - 23020 , SL 23705

Bank Nifty today gave a dip towards 23225 with a low of 23385 and those who are looking to go long should keep a strict cbsl of 23100 for their positions. Though we may see a bounce but its possible that the bounces get sold off in the coming sessions . 

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 25232.60 on 31st Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 11794.25 on 31st Aug 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.