This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Today with gap down nifty fall further for 90 points and gave nice setups. I traded Bank Nifty as at time of trade Bank nifty provided better setup. For last two days with gap up opening nifty was rangebound and today it falls as posted in yesterday that if gap down there might be gap filling which it did today and took support exactly near gap.
Today nifty gave range of 90 points from resistance to support. For tomorrow expiry day setup:
1.) If opens flat will look for price to take support near Today's low 18480 if it takes support will buy for target of todays high or resistance of 18580. If breaks below 18480 then will short for target of 18425, then next support 18380.
2.) If opens gap up then wait for price action to form.
3.) If opens gap down then will also wait for price action to form. will look for nearby support or resistance level.
As tomorrow's expiry day premiums will erode also might me range bound in today's 90 points if it's range bound then will try to trade within range if good setup is formed.
Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
Today with gap down nifty fall further for 90 points and gave nice setups. I traded Bank Nifty as at time of trade Bank nifty provided better setup. For last two days with gap up opening nifty was rangebound and today it falls as posted in yesterday that if gap down there might be gap filling which it did today and took support exactly near gap.
Today nifty gave range of 90 points from resistance to support. For tomorrow expiry day setup:
1.) If opens flat will look for price to take support near Today's low 18480 if it takes support will buy for target of todays high or resistance of 18580. If breaks below 18480 then will short for target of 18425, then next support 18380.
2.) If opens gap up then wait for price action to form.
3.) If opens gap down then will also wait for price action to form. will look for nearby support or resistance level.
As tomorrow's expiry day premiums will erode also might me range bound in today's 90 points if it's range bound then will try to trade within range if good setup is formed.
Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .