In the previous session :
Bank Nifty went down by 280 points then went up by 445 points before closing higher by 57 points on Tuesday 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 01st Sep :
Bank Nifty initially triggered our short trade and completed just 1 target and took our TSL. Post that Bank Nifty reversed to trigger our long trade and completed 2 targets doing 250+ points .
For 02nd Sep :
Sustaining above 23985 enter for 24095 - 24220 - 24550 , SL 23865
Today Bank Nifty bounced back towards 24100 holding the cbsl of 23100 mentioned yesterday for longs.
Though we may see a further bounce towards 24300 - 24500 but its possible that the bounces get sold off in the coming sessions .
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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