Trading_hawk

Simple Trade Setup | Bank Nifty | 10-08-2021

Long
NSE:BANKNIFTY   NIFTY BANK
NSE:BANKNIFTY

On One hour Time frame we can see it is making ascending triangle pattern.
Please refer chart below.


Breakout of 36105 with 15min candle will give good upmove.

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Simple Trade Setup.
Levels remains same as per previous trade setup.

Scenario -1
If it opens flat between 36000-36050 then better to wait till it breaks on either side on the level to take the trade.

Scenario -2
If it opens Gap up above 36050 then if it breaks 36105 then it will be a buy trade entry.

Scenario -3
If it opens Gap down in range of 35950-35975 then short trade will be breakdown of 35936 level and buy trade will be breakout of 36022 level.

Scenario - 4
If it opens gap down below 35900 range and faces resistance as 35960-35970 range then it will be short trade but for buy trade it will be better take once the 36022 level breakout.

Hope I made it easy to understand.

All the levels will work as support, resistance, trade entry and exit point w.r.t to price action works on particular day near that levels.

Do comment your doubt or suggestion.

All the best.

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