Yesterday, I shared two charts. one chart for positional & one for Intraday. The link of yesterday's post is given in "Link to related Ideas area of Trading view
If you read that post, then surely you had made a handsome profit. I had made a magic box which is broken by one big bull candle. After that, one big bull candle at 9:45 a.m broke the trendline. That trendline was retested at 10:45 a.m. At that point of time price was 43500. That was your entry point. you all learnt from our class that trade must be taken at a retest of the candle. Banknifty made a high of 43792. 295 points rally in intraday is not a matter of joke. So, read the post carefully and take trades accordingly.
Now let's talk about today's analysis.
Banknifty is facing daily resistance at 43780. If banknifty opens the gap up then wait for gap fill, then take trade. If it open flat and candle close above previous day high, then you can buy future or call of slight ITM with the SL below Previous day high. Risk:reward must be 1:3.
Suppose banknifty open gap up and it is rejected below the previous day high then one should avoid the trade for today. you have to wait for proper breakout till 1:15 p.m. According to my point of view, We have to wait till 1:15 p.m if Banknifty don't cross PDH at the time of opening. Suppose it opens at magic box, then one can take the trade with the SL below magic box.
If you read that post, then surely you had made a handsome profit. I had made a magic box which is broken by one big bull candle. After that, one big bull candle at 9:45 a.m broke the trendline. That trendline was retested at 10:45 a.m. At that point of time price was 43500. That was your entry point. you all learnt from our class that trade must be taken at a retest of the candle. Banknifty made a high of 43792. 295 points rally in intraday is not a matter of joke. So, read the post carefully and take trades accordingly.
Now let's talk about today's analysis.
Banknifty is facing daily resistance at 43780. If banknifty opens the gap up then wait for gap fill, then take trade. If it open flat and candle close above previous day high, then you can buy future or call of slight ITM with the SL below Previous day high. Risk:reward must be 1:3.
Suppose banknifty open gap up and it is rejected below the previous day high then one should avoid the trade for today. you have to wait for proper breakout till 1:15 p.m. According to my point of view, We have to wait till 1:15 p.m if Banknifty don't cross PDH at the time of opening. Suppose it opens at magic box, then one can take the trade with the SL below magic box.