Monday 24 August 2020

Bank Nifty Spot Outlook for 25th August

  In the previous session : 





Bank Nifty went up by 598 points before closing higher by 533 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 24th Aug :



Bank Nifty triggered our long trade and completed all targets and more giving 480 points 

For 25th Aug :


Sustaining above 22960 enter for 23040 - 23130 - 23370 , SL 22870


Sustaining below 22705 enter for 22630 - 22540 - 22300 , SL 22795

Bank Nifty has closed well above 22600 and now it needs to sustain above the minor resistance at 22995 for a move towards the next resistance zone of 23225 - 23435 .




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 11460.35 on 18th 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. 

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