Thursday 27 August 2020

Bank Nifty Spot Outlook for 28th Aug

  In the previous session : 





Bank Nifty went up by 290 points before closing higher by 186 points on Thursday 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 27th Aug :



Bank Nifty triggered our long trade and completed nearly targets giving 160 points  points 

For 28th Aug :


Sustaining above 23695 enter for 23755 - 23820 - 24000 , SL 23630


Sustaining below 23505 enter for 23450 - 23380 - 23200 , SL 23570

As mentioned previously we were expecting a move toward 23225 -23435 and we got a high of 23704.05 exceeding the targets.  Bank Nifty closed at 23600.35 well above our view negation level of 23450 today though Nifty closed borderline at its negation levels. Need to see now if it can sustain at these levels now in tomorrows session. Will avoid positional trade till then and trade as per intraday levels.



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 23704.05 on 27th Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 11617.35 on 27th 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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