#BankNifty-17/05/2022-Levels

May 17, 2022

Hello Traders,
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#BankNifty-17/05/2022-Levels
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If Market Opens as a-

GAP-UP: Support of R2 (BUY) – Rejection of PDH (SELL)

FLAT: Support of R2 (BUY) – Rejection of IMP (SELL)

GAP-DOWN: Support of IMP (BUY) – Rejection of IMP (SELL)
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Happy Learning and Trading

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.

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SHORT FORM &FULL FORM
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• PDH-> Previous Day High
  
• PDL-> Previous Day Low
  
• PDC-> Previous Day Close
  
• PWH-> Previous Week High
  
• PWO-> Previous Week Open
  
• PWC-> Previous Week Close
  
• PWL-> Previous Week Low
  
• IMP -> Important
  
• R1, R2,R@3... ->Resistance-Zones
  
• S1, S2,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 )