Good Morning Everyone, Key levels on Bank Nifty -->Major Supply zone- 41700 - 42000 -->Fib Resistance zone: 41250
-->On Higher Time frames Major Support 39850 level -->If we observe the volumes on recent swing high i.e., 40700 We can consider this as a decent breakout indicating Bullish behavior -->Until we get a Closing below 39850 level market will remain bullish .
-->This doesn't mean we can long right now unless you can risk 4000 - 4500 per lot --> Its always better to wait for retracements and buy on those dips.
-->From 39850 BNF is in up move when this wave is over in smaller Time frame we shall see a correction then we can go long with small SL.
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
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