RaviChandran_Rajkumar

How to Trade Bank Nifty on 03 March 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 03 March 2021

What Chart Says:
BankNifty formed a inside bar doji candle on the daily frame.

Behind the scenes:
Advance to decline ratio is around 47:3 in nifty 50
FII invested around 2200 crores into the market
At the time of review, US market was down by 1.69 percent & all european markets were in green. singapore nifty by flat.

What to expect:
We can most probably expect a flat to gap down opening in bank nifty today.

How to trade today:
Today being a day before expiry expect a
probable premium decay day by moving the market within the yesterdays range

Possible setups:
1. GAP UP OPENING - First possible resistance is at 35747 and if it is taken out and if it acts as support then we can expect 36452 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 35000. Any of these levels acting as a strong resistance can go short with possible lower targets of 34658.
3. Flat OPENING - 35420 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 5 min 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 detailed & LIVE updates.

Happy Trading !
Youtube: https://bit.ly/39LWvXR
Indicator: https://bit.ly/3qJr8EL
Telegram: https://t.me/tradershedge
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