Banknifty Trade Setup for 13-10-2023
Updated
BankNifty important levels to watch are as follows
#Support: 44220
Sell below: only on 15 minute candle closure below the level.
Target 1: 44120
Target 2: 44000
#Resistance: 44380
Buy Above: only on 15 minute candle closure Above the level.
Target 1: 44470
Target 2: 44620
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#Support: 44220
Sell below: only on 15 minute candle closure below the level.
Target 1: 44120
Target 2: 44000
#Resistance: 44380
Buy Above: only on 15 minute candle closure Above the level.
Target 1: 44470
Target 2: 44620
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Note
descending triangle pattern, as per 1 minute chart, potential short entry will be on 1 minute candle closing below 44220.
Note
pattern negated !Note
formation of demand and supply zone as per 1 min timeframe chart.
Note
Note
Target 1 on upside achieved !
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