Currently bank nifty is in a broad range of 44200 and 45000 after a sharp fall
The strongest resistance level 45000 and Big bulls will active after it will start trading above 45000
Since the past trend of last few days market is behaving bearish and even the global sentiments are also bearish, it is wiser to trade with the trend and focus a little bit more on the selling side
How can we plan to trade in banknifty on tuesday
1st Market opens flat near around 44600, It will be best place us to trade for us, we can
simply short if breakdowns 44500 with a small stop loss of 50-80 points
2nd Market opens small gap up near 44700 and spend some time there and hold at that level
and then crossed above 44750 I would like to trade take a small trade for 100-150 points
with small stop loss but with less quantity as we are trading against the trend
3rd Market opens gap down near 44400 it will be a little confusing to trade as there are
support at 44400,44300, 44200 and market can be trapy so i would like to trade only if
market spend some time at 44200 and then breaks down, then it can give a big down side
move and we can plan for big targets.
4th Market opens big gap up around 44900 , then I will be little less interested in trading as
then market can be trapped in a range and I will prefer to trade only if market spend time
in that range and then breakout 45000 in the second half of the trading session
Its just my opinion and for educational purpose trade at your own risk
The strongest resistance level 45000 and Big bulls will active after it will start trading above 45000
Since the past trend of last few days market is behaving bearish and even the global sentiments are also bearish, it is wiser to trade with the trend and focus a little bit more on the selling side
How can we plan to trade in banknifty on tuesday
1st Market opens flat near around 44600, It will be best place us to trade for us, we can
simply short if breakdowns 44500 with a small stop loss of 50-80 points
2nd Market opens small gap up near 44700 and spend some time there and hold at that level
and then crossed above 44750 I would like to trade take a small trade for 100-150 points
with small stop loss but with less quantity as we are trading against the trend
3rd Market opens gap down near 44400 it will be a little confusing to trade as there are
support at 44400,44300, 44200 and market can be trapy so i would like to trade only if
market spend some time at 44200 and then breaks down, then it can give a big down side
move and we can plan for big targets.
4th Market opens big gap up around 44900 , then I will be little less interested in trading as
then market can be trapped in a range and I will prefer to trade only if market spend time
in that range and then breakout 45000 in the second half of the trading session
Its just my opinion and for educational purpose trade at your own risk