How to Trade Bank Nifty on 04 March 2021

How to Trade Bank Nifty on 04 March 2021

What Chart Says:
Bank Nifty formed a solid bullish candle at poised a good position to take new highs.

Behind the scenes:
Advance to decline ratio is around 47:3 in nifty 50
FII & DII have both invested of around 2400 Crores together
All the european markets and asian markets were in Green at the time of review

What to expect:
If the market makes flattish open on global clues then we can expect a possible range bound market and today profit booking can be expected, if not we can test 37300/37400 levels

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 36550 and if it is taken out and if it acts as support then we can expect 36848 / 37232 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 36015. Any of these levels acting as a strong resistance can go short with possible lower targets of 35754/35570.
3. Flat OPENING - 36368 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????.

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You can also check out the Links in the signature for regular & LIVE updates.

Happy Trading !
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Super sir
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