Bank Nifty Spot Outlook for 16th Jul

In the previous session : 

Bank Nifty went up by 543 points then went down by 161 points before closing lower by 51 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 15th Jul :

Bank Nifty triggered our long trade with a gap up and did further 300 points. 

For 16th Jul :

Sustaining above 21475 enter for 21560 - 21655 - 21915 , SL 21380

Sustaining below 21205 enter for 21120 - 21025 - 20765 , SL 21300

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 23080.60 on 08th July in the bounce from the fall till 16116.25  while Nifty has made a high of 10894.05 on 13th 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. 

Join our Telegram Channel "simplytradestocks" for live index & 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.