Sunday 6 September 2020

Bank Nifty Spot Outlook for 07th Sep

 In the previous session : 





Bank Nifty went down by 654 points before closing lower by 519 points on Friday 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 04th Sep :



Bank Nifty  triggered our short trade and did 475 points

For 07th Sep :


Sustaining above 23190 enter for 23295 - 23420 - 23755 , SL 23065


Sustaining below 22835 enter for 22725 - 22600 - 22270 , SL 22960


For this week Bank Nifty has immediate support at 22545 and sustaining below it we can see a further correction towards 21930 levels.

For this week Bank Nifty has immediate resistance at 23480 and sustaining above it we can see a further recovery towards 24090 levels 

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. 


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