Bank Nifty looks strong as it broke past resistance.
If it trace back to its demand zone (40833) we can go long.
If you want confirmation wait for bullish candlestick pattern.
SL level will be 40700
Add 15th sep 40800 CE in your watchlist. SL will be 45-50 rs per lot.
If price comes back with big red candles definitely wait of bullish candlestick pattern.
PS: Price might not come back also.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If it trace back to its demand zone (40833) we can go long.
If you want confirmation wait for bullish candlestick pattern.
SL level will be 40700
Add 15th sep 40800 CE in your watchlist. SL will be 45-50 rs per lot.
If price comes back with big red candles definitely wait of bullish candlestick pattern.
PS: Price might not come back also.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.