Trading_hawk

Simple Trade Setup | Bank Nifty | 11-08-2021

Long
NSE:BANKNIFTY   NIFTY BANK
NSE:BANKNIFTY

Simple Trade Setup

Bank nifty closed almost at the same level as per yesterday, hence our trade setup will be same as per previous day.

Today it Breakdown the triangle pattern which was posted in previous trade setup details.
Now on 1hour time frame it has been trading in rising channel pattern.

Please refer below chart.


Break on either side will give good movement.

Chart and levels are easy to understand. Each level will work as resistance,support, entry and exit point of trade w.r.t how price action are working near that level.

Do comment your doubt or suggestion.

All the best.

Comments

Need to break this trendline today to go up. 12-08-2021.

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One can Book profit at 35600 in short position at this moment.

New short position will be below 35475 level breakdown.
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Trading_hawk Trading_hawk
It has made reversal hammer pattern on 15min time frame.
check below image chart

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Trading_hawk Trading_hawk
And the reversal happen.

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