Hello Traders,
Looking at the Bank Nifty (15m timeframe), the price is currently holding around the 56,093 level after a decent push up. Based on SMC (Smart Money Concepts), the current price action is hovering in no-man's land. I'm waiting for the price to tap into the high-probability zones I’ve marked on the chart.
Here is my game plan for the upcoming sessions (indicated by the blue paths):
📊 Trade Scenarios:
Scenario 1 (Sell from Supply): If the price rallies from here, I am closely watching the unmitigated Supply Zone located between 56,500 - 56,700 (highlighted in red). A tap into this zone with a bearish LTF confirmation (like a CHoCH) will be my signal to look for short opportunities.
Scenario 2 (Buy from Demand): If the price starts to retrace downwards, the major Demand Zone to watch is around the 55,100 - 55,300 area. If the price mitigates this zone and provides bullish LTF confirmation, I will be looking for a long setup to catch the next leg up.
💡 Key Takeaway: The key to SMC is patience. I am not taking any trades in the middle. Let the price come to the defined POIs (Points of Interest) and then execute with strict risk management.
⚠️ Disclaimer: This analysis is for educational purposes only and not financial advice.
Which direction do you think Bank Nifty is headed first? Let me know your thoughts in the comments and hit that LIKE button!
Looking at the Bank Nifty (15m timeframe), the price is currently holding around the 56,093 level after a decent push up. Based on SMC (Smart Money Concepts), the current price action is hovering in no-man's land. I'm waiting for the price to tap into the high-probability zones I’ve marked on the chart.
Here is my game plan for the upcoming sessions (indicated by the blue paths):
📊 Trade Scenarios:
Scenario 1 (Sell from Supply): If the price rallies from here, I am closely watching the unmitigated Supply Zone located between 56,500 - 56,700 (highlighted in red). A tap into this zone with a bearish LTF confirmation (like a CHoCH) will be my signal to look for short opportunities.
Scenario 2 (Buy from Demand): If the price starts to retrace downwards, the major Demand Zone to watch is around the 55,100 - 55,300 area. If the price mitigates this zone and provides bullish LTF confirmation, I will be looking for a long setup to catch the next leg up.
💡 Key Takeaway: The key to SMC is patience. I am not taking any trades in the middle. Let the price come to the defined POIs (Points of Interest) and then execute with strict risk management.
⚠️ Disclaimer: This analysis is for educational purposes only and not financial advice.
Which direction do you think Bank Nifty is headed first? Let me know your thoughts in the comments and hit that LIKE button!
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.