Monday 14 September 2020

Bank Nifty Spot Outlook for 15th Sep

 In the previous session : 





Bank Nifty went up by 277 points then went down by 452 points before closing lower by 379 points on Monday 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 14th Sep :



Bank Nifty  initially triggered our long trade and completed 2 targets doing 170 points . Post that Bank Nifty reversed to trigger our short trade and completed all targets doing 350 points . 


For 15th Sep :


Sustaining above 22190 enter for 22245 - 22310 - 22480 , SL 22125


Sustaining below 22010 enter for 21960 - 21890 - 21730 , SL 22075


For this week Bank Nifty has its immediate support zone at 22330 - 22240 and sustaining below it we can see a further correction towards its next support zone at 21990 - 21920 .

For this week Bank Nifty has immediate resistance zone at 22630 - 22720  and sustaining above it we can see a further recovery towards its next resistance zone of 22970 - 23040 levels 

Bank Nifty made a high of 22757.30 and a low 22028.15. Bank Nifty broke its initial support and tested its next support zone today . Had mentioned previously that Bank Nifty is looking weaker to the Nifty .


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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