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Trading_hawk
Jan 13, 2022 5:29 PM

Simple Trade Setup | BANKNIFTY | 14-01-2022[INTRADAY] 

Nifty Bank IndexNSE

Description

NSE:BANKNIFTY


Trade Setup for 14-01-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Comments
investorrrajan
How do I know which contract and call or put to buy? Any guide will help a new trader like me
investorrrajan
@investorrrajan I mean for bank NIFTY intraday
Trade_Paresh
@investorrrajan, I am sure this is the best strategy given, You can add RSI 7 Indicator in your Treading View chart (In case of RSI Line touch Below 12~10 You can Buy any In the Money CALL as daily suggestion by SIMPLE TRADE SETUP......( Vis a Viz - RSI Above 90~95 you can Buy PUT (In the Money))
Trading_hawk
@Trade_Paresh thank you for your insight and explanations. much appreciated. 🙏
Trading_hawk
@investorrrajan it is always advised to trade ITM in Index option.
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