Thursday, 29 October 2020

Bank Nifty Outlook for 30th Oct

 In the previous session : 

Bank Nifty went down by 410 points then went up by 107 points before closing lower by 140  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 29th Oct :



Bank Nifty triggered our short trade with a gap down and  completed 2 targets .

For 30th Oct :


Sustaining above 24250 enter for 24350 - 24470 - 24770 , SL 24140


Sustaining below 23930 enter for 23830 - 23720 - 23420 , SL 24045


Now for this week :

Bank Nifty has immediate resistance near 24755 - 24930 and above it next resistance near 25400 - 25520 zone


Bank Nifty has immediate support near 24200 - 24030 and below that next support near 23555- 23435 zone

Bank Nifty broke our immediate weekly support and made a low of 23822.05 retesting this weeks low as mentioned in the previous post.  In the coming sessions if it breaks below 24030 then we can see a retest of 23850 else holding above 24030 - 24200 zone we can see a move towards 24755 - 24930 .


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 12025.45 on 15th Oct 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. 


Nifty Outlook for 30th Oct

 In the previous session : 


Nifty went down by 123 points then went up by 14 points before closing lower by 59 points on Thursday as compared to the previous day's close. 








Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 29th Oct :

Nifty triggered our short trade with a gap down and did 2 targets 

For 30th Oct :
 


Sustaining above 11710 enter for 11730 - 11760 - 11830 , SL 11680


Sustaining below 11630 enter for 11610 - 11580 - 11520 , SL 11660


 

Now for this week :

Nifty has immediate resistance at 12000 - 12045 zone and closing above it we may see a further move towards 12165 - 12195 zone 

Nifty has immediate support at 11860 - 11815 zone and closing below it we may see a further move towards 11700 - 11665 zone . 

We saw Nifty break below the next weekly support and make a low of 11606.45 on Thursday which was also the monthly expiry and close within the support zone . If it breaks and sustains below it then we can see a further correction towards 11565 levels . Holding the support we can see a bounce back towards 11800 levels.

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"






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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.


Wednesday, 28 October 2020

Bank Nifty Outlook for 29th Oct

  In the previous session : 

Bank Nifty went up by 11 points then went down by 711 points before closing lower by 537  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 28th Oct :



Bank Nifty triggered our short trade and nearly completed all targets doing  500 points.

For 29th Oct :


Sustaining above 24400 enter for 24500 - 24615 - 24930 , SL 24280


Sustaining below 24065 enter for 23965 - 23850 - 23535 , SL 24185


Now for this week :

Bank Nifty has immediate resistance near 24755 - 24930 and above it next resistance near 25400 - 25520 zone


Bank Nifty has immediate support near 24200 - 24030 and below that next support near 23555- 23435 zone

Bank Nifty had broken our immediate weekly support and made a low of 23867.75 so far this week. In the coming sessions if it breaks below 24030 then we can see a retest of this weeks low and below it a move towards the next support zone of 23555 - 23435. If it holds above 24200 then it can once again move towards 24755 - 24930 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 25232.60 on 31st Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 12025.45 on 15th Oct 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. 











Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

















To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.




















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.