Hello Traders, Welcome to SriTrader5121 -------------------------------------------------- [B]Bank Nifty - 16/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48035 – 48060 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48060 Resistance-1: 48320 Support-2: 47940 Resistance-2: 48380 Support-3: 47830 Resistance-3: 48470 Support-4: 47700 Resistance-4: 48600 ____________________________________________ Happy Learning and Trading – TST5121
Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM [List] * 0.5 -> 0.5% Swing * PDH -> Previous Day High * PDL -> Previous Day Low * PDC -> Previous Day Close * PDO -> Previous Day Open * PWH -> Previous Week High * PWO -> Previous Week Open * PWC -> Previous Week Close * PWL -> Previous Week Low * D_S -> Day Support * D_R -> Day Resistance * W_S -> Week Support * W_R -> Week Resistance * W_O -> Week Open * W_C -> Week Close * LW_O -> Last Week Open * LW_C -> Last Week Close * IMP -> Important * R@1, R@2, R@3... -> Resistance-Zones * S@1, S@2, S@3... -> Support-Zones * MS -> Major Support * SH -> Swing-High * SL -> Swing-Low * DT -> Double Top * DB -> Double Bottom * TT -> Triple Top * TB -> Triple Bottom * TF -> Time Frame * BO -> Break-Out * RR -> Risk-Reward * SL -> Stop-Loss * GAP -> The area b/w Previous Day Close and Today Open * Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.