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Trading_hawk
Jan 17, 2022 3:16 PM

Simple Trade Setup | BANKNIFTY | 18-01-2022 [INTRADAY] 

Nifty Bank IndexNSE

Description

NSE:BANKNIFTY

Trade Setup for 18-01-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Comments
scorprabu
How about that sudden wide fall? why?
Trading_hawk
@scorprabu, as far as I know it comes due to global fall. and US bond yield increase
aasunil
those lines act like a magnet
Trading_hawk
@aasunil that's the power of levels and price action
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