Wednesday 10 June 2020

Bank Nifty Spot Outlook for 11th Jun

In the previous session : 



Bank Nifty went up by 526 points then went down by 53 points before closing lower by 375 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 10th Jun :


Bank Nifty triggered our long trade and did 355 points .


For 11th Jun :

Sustaining above 21270 enter for 21370 - 21490 - 21810 , SL 21150

Sustaining below 20930 enter for 20830 - 20710 - 20390 , SL 21050





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 21967 on 30th April in the bounce from 16116.25 retracing 36.30 % of the fall while Nifty has made a high of 10328.50 from the lows of 7511 retracing 37.5%




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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