Trading_hawk

Simple Trade Setup | BANKNIFTY | 08-10-2021 [ intraday]

NSE:BANKNIFTY   NIFTY BANK
NSE:BANKNIFTY

Observations:
1) On 1 day time frame, we can see that it took support from 10DMA and maintained to close above it.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 08-10-2021:

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.

Please refer below chart just for reference.

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 respsective level considering how price action works near that level.