BANKNIFTY is in RANGE but Tradeable!
Please refer Chart which shows wider Range from 43500 to 44500 level.
Break of it can give us Trending movement positional.
Intraday is trickiest part which needs money management & right Entry.
Major Intraday Resistance is 44100 level, above it we can trade short covering moves till 44450 level, if Index opens flat with +/- 50 points.
Acc. to XABCD pattern, we can see 0.886 level in 44400/450 area.
If opens gap up & reach this area, we can plan Shorts but entry must be acc. to price action formation. Switch to 5 min chart, look for M pattern & enter below swing low with SL @ high.
Target 44100/150 area.
We have both plan.
Break of it can give us Trending movement positional.
Intraday is trickiest part which needs money management & right Entry.
Major Intraday Resistance is 44100 level, above it we can trade short covering moves till 44450 level, if Index opens flat with +/- 50 points.
Acc. to XABCD pattern, we can see 0.886 level in 44400/450 area.
If opens gap up & reach this area, we can plan Shorts but entry must be acc. to price action formation. Switch to 5 min chart, look for M pattern & enter below swing low with SL @ high.
Target 44100/150 area.
We have both plan.
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