Wednesday 30 September 2020

Bank Nifty Outlook for 01st Oct

 In the previous session : 





Bank Nifty went down by 283 points then went up by 138 points before closing higher by 40 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 30th Sep :



Bank Nifty triggered our short trade and did just 100 points and took our TSL.

For 01st Oct :


Sustaining above 21625 enter for 21735 - 21860 - 22190 , SL 21505


Sustaining below 21275 enter for 21170 - 21045 - 20715 , SL 21400


As mentioned in the previous post "Now for this week Bank Nifty has immediate resistance near 21230 - 21380 and above it next resistance near 21810 - 21910 ." , and all days this week Bank Nifty after all the volatility has managed to close above 21380 which keeps the option open for a move to the next resistance zone of 21810 - 21910 in tomorrow's session which is a expiry day and also the last trading day for this week.


On the downside Bank Nifty has immediate support near 20735 - 20585 and below that next support near 20160 - 20050 .

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. 

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