Monday 26 October 2020

Bank Nifty Outlook for 27th Oct

 In the previous session : 





Bank Nifty went up by 99 points then went down by 610 points before closing lower by 403  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 26th Oct :



Bank Nifty triggered our short trade and nearly completed all target and did 440 points.

For 27th Oct :


Sustaining above 24250 enter for 24355 - 24480 - 24810 , SL 24130


Sustaining below 23900 enter for 23795 - 23670 - 23340 , SL 24020


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 23867.75 before closing at 24075.45. Now in the coming sessions sustaining below 24030 we can see a test of the next support zone at 23555 - 23435.

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. 

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