In the previous session :
Bank Nifty went down by 1067 points before closing lower by 1020 points on Friday
Bank Nifty made a new life time high of 32842.30 in this upmove from the lows of 16116.25 made on 24th March
On 22nd Jan :
Bank Nifty triggered our short trade and completed all short targets and more doing 940 points.
For 25th Jan :
Sustaining above 31340 enter for 31445 - 31570 - 31900 , SL 31220
Now for this week :
Bank Nifty has immediate resistance near 31450 - 31625 and sustaining or closing above we can see a further move towards 32105 - 32225 zone
Bank Nifty has immediate support near 30885 - 30710 and sustaining or closing below that we can see a move towards 30230 - 30105 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 32842.30 on 21st Jan 2021 in the bounce from the fall till 16116.25 on 24th March 2020 while Nifty has made a new lifetime high of 14753.55 on 21st 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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