Bank Nifty Spot Outlook for 30th Jul

In the previous session : 

Bank Nifty went up by 240 points then went down by 199 points before closing  lower by 28 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 29th Jul :

Bank Nifty initially triggered our long trade and barely did just 1 target giving 90 points and took our TSL at cost. Post that Bank Nifty triggered our short trade but did not completed any targets and again took our stoploss. Overall a indecisive move day . We can expect the confusion to continue tomorrow too as its expiry and some whipsaws can be seen before the final move .

For 30th Jul :

Sustaining above 22225 enter for 22320 - 22425 - 22710 , SL 22125

Sustaining below 21925 enter for 21835 - 21730 - 21445 , SL 22030

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.