How to Trade Bank Nifty on 01 March 2021

How to Trade Bank Nifty on 01 March 2021

What Chart Says:
Bank Nifty formed a inside , doji kind of candle showing a neutral sentiment.

Behind the scenes:
Advance to decline ratio is around 49:1 in nifty 50
FII & DII were very flat today , a small investment.
Most of the European & Asian markets were in green

What to expect:
Expecting a possible support at the previous session low and bounce back from these levels. But if the previous session low is taken out then we see the possible retest of lower zones

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 35581 and if it is taken out and if it acts as support then we can expect 35902 / 36250 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 35281. Any of these levels acting as a strong resistance can go short with possible lower targets of 34983/34658.
3. Flat OPENING - 35281 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 5min 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 regular & LIVE updates.

Happy Trading !
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