#NiftyBank #Intraday Trade Setup for 16th April 2020

Hello everyone,

Bank Nifty is a white elephant in Indian stock market because for their volatile nature and everyone want to get ride on it but you guys need to remember this is not an easy task :P We have seen a 1200+ points down move in yesterday from the top ( 20178) .

Short Position
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Key Support is on 18650 and this level is so Important if you're looking for a short in Intraday. It's also a B point one of our Harmonic pattern and pattern will be activated if price sustain lower then 18650...

Long Position
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Long is bit tricky and has a very less room in upside . Long position can consider if price sustain above 19300 and has only 200-300 points in upside. Lot of day resistance is in upside so if you consider a long above 19300 then try to book profit before then 19600..


Note : Keep patience in first hour and get it settle at first. Do not rush for trades, wait for a clear move and setup your trade according the levels.

Good Luck & have an awesome day ahead