Bank Nifty went up by 160 points then went down by 272 points before closing lower by 7 points on Friday 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 Jul :
Bank Nifty initially triggered our long trade and took our stoploss. Post that Bank Nifty triggered our short trade and did just 125 points indicating indecisiveness . We can expect a trending move in the coming sessions.
For 03rd Aug :
Sustaining above 21780 enter for 21870 - 21970 - 22235 , SL 21685
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 23211.35 on 22nd July in the bounce from the fall till 16116.25 while Nifty has made a high of 11341.40 on 29th 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