Monday 22 June 2020

Bank Nifty Spot Outlook for 23rd Jun

In the previous session : 



Bank Nifty went up by 740 points before closing higher by 370 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 22nd Jun :


Bank Nifty triggered our long trade and did 548 points 


For 23rd Jun :

Sustaining above 21895 enter for 22010 - 22145 - 22500 , SL 21765

Sustaining below 21520 enter for 21405 - 21270 - 20915 , SL 21650





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 22078.25 on 22nd Jun in the bounce from 16116.25 retracing 37% of the fall while Nifty has made a high of 10393.65 from the lows of 7511 retracing 38.35%




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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