At this point of time , everybody is exhausted with the intraday volatility in nifty and bank nifty. But if we take a look at a slightly bigger picture then we can clearly see the formation of a symmetrical triangle in banknifty . This is a good opportunity for intraday and swing traders as good momentum on either side (short or long) can be achieved after the breakout of this triangle formation. Trade should only be initialized after we get closing of a candle breaking the trendline with power. The timeframe used above is 1hour. Proper use of trailing stoploss should be made as the markets may continue to remain volatile in the upcoming sessions as well. If the trendline is not broken with power then trade should not be in initialized. Good luck :)
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BANKNIFTY has just now taken resistance from the upper trendline of the triangle. Our trade has still not been activated
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Hope all of you who saw my post entered into the trade :) We have even hit our 1st target so quickly!
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Guys we hit all three of our targets in banknifty in just one day!! I was thinking that this trade would take atleast 2-3 days but we got our targets in just one day. Happy profits to whoever traded with me :)