Wednesday 22 July 2020

Bank Nifty Spot Outlook for 23rd Jul

In the previous session : 







Bank Nifty went up by 430 points then went down by 124 points before closing higher by 100 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 22nd Jul :



Bank Nifty triggered our long trade with a gap up above our 2nd target and did not give a chance to enter a trade 








For 23rd Jul :


Sustaining above 23040 enter for 23135 - 23245 - 23540 , SL 22930



Sustaining below 22725 enter for 22630 - 22520 - 22220 , SL 22835




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 11238.10 on 22nd 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.

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