Here are the levels for bank nifty to trade for tomorrow intraday. here the price on weekly TF looking weak after the formation of morning star price has to move up here it is not moving up and on the Daily TF price formed a kind of shooting star pattern and can can trade go for agressive selling once the low has been broken. and on Daily TF there is a trendline acting as the strong resistance and on the 15min TF price formed a channel pattern and we can expect a breakdown as well. we will the plan the trades for tomorrow and trade accordingly. and even there is a RSI divergence on 15min TF.
[HERE THE SUPPORT AND RESISTANCE ARE CLOSE TO THE PRICE MAY BE TOMORROW CAN BE A SIDEWAYS MARKET OR PRICE CAN A DOJI CANDLE ON DAILY TF.]
for long trades: if the price breaks the resistance and strongly then we can take the long trades here the target to be taken as the PDH or the trendline and if the trendline also breaks and retest on the 15min TF then only we can take the trades only on the 15MIN TF.
for short trades: if the price break down the channel pattern and the pullback to the 41140 level then we can take the short trade based on the volume and moving average confirmation or if the price forms any bearish reversal pattern near the trendline then we can also plan the short entries.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.
[HERE THE SUPPORT AND RESISTANCE ARE CLOSE TO THE PRICE MAY BE TOMORROW CAN BE A SIDEWAYS MARKET OR PRICE CAN A DOJI CANDLE ON DAILY TF.]
for long trades: if the price breaks the resistance and strongly then we can take the long trades here the target to be taken as the PDH or the trendline and if the trendline also breaks and retest on the 15min TF then only we can take the trades only on the 15MIN TF.
for short trades: if the price break down the channel pattern and the pullback to the 41140 level then we can take the short trade based on the volume and moving average confirmation or if the price forms any bearish reversal pattern near the trendline then we can also plan the short entries.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.
Trade closed: target reached
hope u all ended with the profits
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.