Banknifty Trade setup for 10-10-2023
Updated
BankNifty important levels to watch are as follows
#Support: 43830
Sell below: 43830 only on 15 minute candle closure below the level.
Target 1: 43680
Target 2: 43500
#Resistance: 43960
Buy Above: 43960 only on 15 minute candle closure Above the level.
Target 1: 44200
Target 2: 44450
=> # 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: 43830
Sell below: 43830 only on 15 minute candle closure below the level.
Target 1: 43680
Target 2: 43500
#Resistance: 43960
Buy Above: 43960 only on 15 minute candle closure Above the level.
Target 1: 44200
Target 2: 44450
=> # 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
demand and supply zones as per 1 min timeframe. Day traders may initiate positions once price breaks out from either side. Do not forget to use SL as per your own risk appetite.
Note
as explained earlier, we all witnessed huge upward momentum after breakout of supply zone as per 1 min time frame.
Trade closed: target reached
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