In the previous session :
Bank Nifty went up by 726 points before closing higher by 683 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 28th Sep :
Bank Nifty triggered our long trade and completed all targets doing 574 points.
For 29th Sep :
Sustaining above 21845 enter for 21950 - 22080 - 22410 , SL 21720
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 ." , today Bank Nifty closed at 21665 and we see a move towards the next resistance zone now.
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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