CNX- BANK NIFTY PROBABLE RANGE FOR -21.8.2024.

 

CNX- BANK NIFTY

CLOSED ON 20.8.2024:-50803.15

The possible range for the day is between 50959-----50646, if it moves above 50959 and maintain then the upside target for the day could be 51116---51273---51430, if it moves above 51430 and sustain then it can sharply move up further. Similarly break below 50646 can pull it down to 50489----50332----50175, it can bounce back from any of these points but break below 50175 may accelerate the fall.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market. 

Thanks 

Narendra Kumar Surana

Mobile—8240951127/9831313654.

Email--- suranank@gmail.com