RaviChandran_Rajkumar

How to Trade Bank Nifty on 08 March 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 08 March 2021

What Chart Says:
Bank Nifty is trading in a kind of range bound and bound well during the close to close well at the session mid

Behind the scenes:
Advance to decline ratio is around 12:38 in nifty 50
FII & DII have both pulled out a small chunk out of today market. around 2250 Crores
US market after the stimulus closed in green with 1.55% gain
Crude oil continuting its up move
USD/ INR is kind of raising

What to expect:
Expect a possible gap up move and wait for the resistance and then trade for the range.

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 35616 and if it is taken out and if it acts as support then we can expect 35933 / 36316 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 34893. Any of these levels acting as a strong resistance can go short with possible lower targets of 34658/34238.
3. Flat OPENING - 35228 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 & LIVE updates.

Happy Trading !
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

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