simplytradestocks : July 2023

Monday 31 July 2023

Bank Nifty Outlook for 01st Aug

In the previous session:

Bank Nifty went down by 108 points then went up by 226 points before closing higher by 183 points on Monday.

Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 31st Jul:

Bank Nifty triggered our long trade and almost completed 2 targets doing 120 points

For 01st Aug:

Sustaining above 45755 enter for 45815- 45890 - 46080, SL 45685

Sustaining below 45550 enter for 45485 - 45415 - 45220, SL 45620

In the Previous Week:

Bank Nifty triggered our weekly short trade on closing above 45800 and almost reached our last weekly short target zone of 45200 - 44930 with a low of 45238.80

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45630 - 45730 for a move towards its initial weekly long targets of 46010 - 46080.

Sustaining or closing above 46080 Bank Nifty may move towards its last weekly long targets of 46310 - 46580

On the downside:

Bank Nifty has to sustain and close below its weekly support at 45300 - 45200 for a move towards its initial weekly short targets of 44930 - 44860

Sustaining or closing below 44860 Bank Nifty may move towards its last weekly short targets of 44620 - 44360

So far this week Bank Nifty made a high of 45694.90 testing its weekly resistance zone of 45630 - 45730 and closed at 45651.10 within it.

Now in the coming session Bank Nifty has to break and sustain above 45730 to move towards its initial weekly long targets of 46010 - 46080. On the downside Bank Nifty has immediate support at 45300 - 45200.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Bank Nifty has now made a new life time high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 24th March 2020 while Nifty has made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511 made on 24th March 2020.

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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

Nifty Outlook for 01st Aug

In the previous session:

Nifty went down by 48 points then went up by 126 points before closing higher by 107 points on Monday

Nifty made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511.10 made on 24th March 2020

On 31st Jul:

Nifty triggered our long trade and completed 2 targets and more doing 80 points

For 01st Aug:

Sustaining above 19800 enter for 19825 - 19860 - 19940, SL 19765

Sustaining below 19710 enter for 19680 - 19650 - 19570, SL 19740

In the Previous Week:

Nifty traded mostly sideways with a negative bias between our weekly resistance and support zone indicating indecisiveness in further direction

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19715 - 19760 to move towards its initial weekly long targets of 19880 - 19910.

Closing above 19910 Nifty may move towards its last weekly long targets of 20010 - 20120

On the downside:

Nifty has to sustain and close below its weekly support at 19575 - 19530 to move towards initial weekly short targets of 19415 - 19380

Closing below 19380 Nifty may move towards its last weekly short targets of 19290 - 19170

So far this week Nifty made a high of 19772.75 breaking above our weekly resistance zone of 19715 - 19760 and closed at 19753.80 within it.

Now in the coming session Nifty has to break and sustain above 19760 to move towards its initial weekly long targets of 19880 - 19910. On the downside Nifty has immediate support at 19575 - 19530.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

Friday 28 July 2023

Bank Nifty Outlook for 31st Jul

In the previous session:

Bank Nifty went up by 48 points then went down by 440 points before closing lower by 210 points on Friday.

Bank Nifty made a new lifetime high of 46369.50 on 21st Jul 2023 from the lows of 16116.25 made on 25th March 2020

On 28th Jul:

Bank Nifty triggered our short trade and almost completed all targets doing 300+ points

For 31st Jul:

Sustaining above 45570 enter for 45630 - 45700 - 45890, SL 45500

Sustaining below 45370 enter for 45310 - 45240 - 45050, SL 45440

In the Previous Week:

Bank Nifty triggered our weekly short trade on closing above 45800 and almost reached our last weekly short target zone of 45200 - 44930 with a low of 45238.80

Now for this week:

On the upside:

Bank Nifty has to sustain and close above its weekly resistance at 45630 - 45730 for a move towards its initial weekly long targets of 46010 - 46080.

Sustaining or closing above 46080 Bank Nifty may move towards its last weekly long targets of 46310 - 46580

On the downside:

Bank Nifty has to sustain and close below its weekly support at 45300 - 45200 for a move towards its initial weekly short targets of 44930 - 44860

Sustaining or closing below 44860 Bank Nifty may move towards its last weekly short targets of 44620 - 44360

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

Nifty Outlook for 31st Jul

In the previous session:

Nifty went up by 36 points then went down by 96 points before closing lower by 13 points on Friday

Nifty made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511.10 made on 24th March 2020

On 28th Jul:

Nifty triggered our short trade and almost completed 2 targets doing 50 points

For 31st Jul:

Sustaining above 19690 enter for 19715 - 19745 - 19825, SL 19660

Sustaining below 19600 enter for 19575 - 19545 - 19470, SL 19635

In the Previous Week:

Nifty traded mostly sideways with a negative bias between our weekly resistance and support zone indicating indecisiveness in further direction

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19715 - 19760 to move towards its initial weekly long targets of 19880 - 19910.

Closing above 19910 Nifty may move towards its last weekly long targets of 20010 - 20120

On the downside:

Nifty has to sustain and close below its weekly support at 19575 - 19530 to move towards initial weekly short targets of 19415 - 19380

Closing below 19380 Nifty may move towards its last weekly short targets of 19290 - 19170

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.