In the previous session :
Bank Nifty went up by 343 points before closing higher by 128 points on Friday
Bank Nifty had made a life time high of 32613.10 on 30th December and had then corrected till 16116.25 points on 24th March
On 07th Jan :
Bank Nifty triggered our long trade with a gap up near our last long target and did not give a chance to trade.
For 11th Jan :
Sustaining above 32160 enter for 32210 - 32265 - 32410 , SL 32105
Now for this week :
Bank Nifty has immediate resistance near 32210 - 32290 and above it next resistance near 32500 - 32555 zone
Bank Nifty has immediate support near 31960 - 31880 and below that next support near 31660 - 31610 zone
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
Bank Nifty has now made a high of 32298.8 on 08th Jan 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 14367.30 on 08th Jan 2021 from the lows of 7511 made on 24th March 2020.
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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