In the previous session :
Bank Nifty went down by 59 points then went up by 713 points before closing higher by 655 points on Friday 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 09th Oct :
Bank Nifty triggered our long trade and did 579 points
For 12th Oct :
Sustaining above 23985 enter for 24070 - 24170 - 24430 , SL 23890
Now for this week :
Bank Nifty has immediate resistance near 24075 - 24215 and above it next resistance near 24595 - 24695 zone
Bank Nifty has immediate support near 23620 - 23480 and below that next support near 23090 - 23000 zone
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 11938.60 on 09th 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.
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