Bank Nifty Outlook for 04th Sep

 In the previous session : 

Bank Nifty went up by 177 points then went down by 423 points before closing lower by 344 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 03rd Sep :

Bank Nifty  triggered our short trade and took our stoploss . Post that Bank Nifty reversed to trigger our short trade and completed 2 targets doing 225 points  

For 04th Sep :

Sustaining above 23705 enter for 23810 - 23935 - 24265 , SL 23585

Sustaining below 23355 enter for 23250 - 23125 - 22800 , SL 23480

Bank Nifty made a high of 24199.65 this week . As mentioned earlier we may see a further bounce towards 24300 - 24500 but its possible that the bounces get sold off in the coming sessions . Today we saw Bank Nifty make a high of 24051.60 and close at 23530.85 which is the lowest close for this week.

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 25232.60 on 31st Aug in the bounce from the fall till 16116.25  while Nifty has made a high of 11794.25 on 31st Aug 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.