Wednesday, 26 August 2020

Bank Nifty Spot Outlook for 27th Aug

 In the previous session : 

Bank Nifty went up by 361 points before closing higher by 322 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 26th Aug :

Bank Nifty triggered our long trade and completed 2 targets giving 225 points  points 

For 27th Aug :

Sustaining above 23545 enter for 23630 - 23720 - 23975 , SL 23455

Sustaining below 23280 enter for 23200 - 23105 - 22855 , SL 23375

As mentioned yesterday we were expecting a move toward 23225 -23435 and we got a high of 23453.40 completing the targets.  Expecting resistance around this zone . View negated on closing above 23450 tomorrow

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 23453.40 on 26th Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 11561.75 on 26th 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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