RaviChandran_Rajkumar

How to Trade Bank Nifty on 22 March 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 22 March 2021

What Chart Says:
Bank Nifty formed a strong bullish candle and at its strong resitance.

Behind the scenes:
Advance to decline ratio is around 42:8 in nifty 50
FII have pumped in 1418 Cr & DII has pumped in 559 Cr from the market
European markets are trading in red at the last closing session
SGX nifty is closed flattish at the time of review
US Market closed positive with 0.76% gains
Crude oil closed in green by 3.25% at 61.42
Gold is trading in green by 053% at 1744.86
US 10Yr bond is shown in a doji bullish pattern by closing around 1.716
Dollor index is showing possible selling buid up

What to expect:
Global markets showing a mixed kind of emotions but the domestic market looks bullish . Expect a possible flattish opening and you can expect the upper resistance can be tested before trading in a range.

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 34355 and if it is taken out and if it acts as support then we can expect 34577 / 34760 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 33840. Any of these levels acting as a strong resistance can go short with possible lower targets of 33590/33361.
3. Flat OPENING - 34115 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 analysis & catch us on LIVE trading.

Happy Trading !
Trade closed manually: Levels respected very well as predicted.
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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