RaviChandran_Rajkumar

How to Trade Bank Nifty on 01 March 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 01 March 2021

What Chart Says:
Bank Nifty formed a bearish bar candle closing little below than the previous support.

Behind the scenes:
Advance to decline ratio is around 0:50 in nifty 50
FII has pulled out around 8295 crores and DII has bought 1499 crores
Us market has closed on positive note of 0.56 on previous week closing session
Singapore market is up by 0.39 at the time of review

What to expect:
Expecting a possible support at the previous session low and bounce back from these levels. But if the previous session low is taken out then we see the possible retest of lower zones

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 36868 and if it is taken out and if it acts as support then we can expect 37232 / 37492 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 36253. Any of these levels acting as a strong resistance can go short with possible lower targets of 35802.
3. Flat OPENING - 36494 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 5min 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 regular & LIVE updates.

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

Dear sir pl. Check the bank nifty level gap down opnig and flat opening level is not match because cnx nifty spot price is 34803
Reply
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