RaviChandran_Rajkumar

How to Trade Bank Nifty on 15 March 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 15 March 2021

What Chart Says:
Bank Nifty formed a bearish candle on the daily time frame but has taken good support from the PEMA zone

Behind the scenes:
Advance to decline ratio is around 8:48 in nifty 50
FII have pulled out 942 Cr & DII has pulled out 163 Cr from the market
European markets closed flattish at the previous closing session
SGX nifty has rallied 0.41 % at the time of this review
US Market has showed some good recovery signs.
Crude oil is currently trading around $65.6
US 10Yr bond is still making higher highs which is not that good a sign
Dollor index is showing signs of lowering which is a good sign for our market

What to expect:
With global markets showing possible recovery, we can expect a small gap up opening and expect to test the upper resistance and try to form a range bound day on Monday . Watch out for the possible resistances as marked on the chart.

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 35681 and if it is taken out and if it acts as support then we can expect 35840 / 36497 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 35188. Any of these levels acting as a strong resistance can go short with possible lower targets of 34893/34471.
3. Flat OPENING - 35496 is the key level to watch out on flat open any support & resistance at this level we can take positions in the direction of the trend and sit for targets as marked.

For better Accurate trades use tradershedge indicator:
?? Each levels Act can as possible support and resistance????.

You can trade then on 5 min and 15 min as per your trade set up or you can follow the dynamic entry & exit levels update and triggers from our TradersHedge indicator setup.

The indicator will auto plot the possible reversal zones for intraday & swing trades by analyzing the higher time frames and identifies the supply & demand zones.

The indicator will also guide you as a GPS system by plotting the possible target zones well in advance so that you can plan your trades accordingly.

You can also check out the Links in the signature for detailed analysis & catch us on LIVE trading.

Happy Trading !
Trade closed manually: The levels were respected brilliantly and got trades on both sides today.
Youtube: https://bit.ly/39LWvXR
Indicator: https://bit.ly/3qJr8EL
Telegram: https://t.me/tradershedge
Join TradingView and we both get up to $30: https://bit.ly/39PGWi6

Comments

how to use the tradershedge indicator?
Reply
@raghav2518, Do check out the link in the signature for more details.
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