Friday, 31 July 2020

Bank Nifty Spot Outlook for 31st Jul

In the previous session : 




Bank Nifty went up by 176 points then went down by 496 points before closing  lower by 430 points on Thursday 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 30th Jul :



Bank Nifty initially triggered our long trade and took our stoploss. Post that Bank Nifty triggered our short trade and completed all targets and more doing 325 points







For 31st Jul :


Sustaining above 21795 enter for 21890 - 21995 - 22280 , SL 21695


Sustaining below 21500 enter for 21405 - 21300 - 21015 , SL 21600





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 23211.35 on 22nd July in the bounce from the fall till 16116.25  while Nifty has made a high of 11341.40 on 29th July 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.

Nifty Spot Outlook for 31st Jul

In the previous session : 







Nifty went up by 97 points then went down by 118 points before closing lower by 100 points on Thursday as compared to the previous day's close.








Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 30th Jul :

Nifty triggered our long trade initially and completed 2 targets giving 50 points and took our trailing stoploss. Post that Nifty triggered our short trade and did 80 points 


For 31st Jul  :



Sustaining above 11140 enter for 11165 - 11190 - 11265 , SL 11115
















Sustaining below 11065 enter for 11040 - 11015 - 10940 , SL 11090


Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"






























Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      












To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.























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.