aditya_biswas

Bank Nifty 6th Nov Trade | Detailed Analysis

Long
NSE:BANKNIFTY1!   BANKNIFTY INDEX FUTURES
Bias was positive from the beginning of the day.
What to watch out ? Initial candles are aligned with Positive bias or not. In this case, YES.

1st Long around 9.30 upon confirmation of trend in direction of bias with SL at critical pivot .
As we see the price did not break the support of previous day (marked in chart).
Slowly it breached the resistance of yesterday ( marked in chart) giving us double confirmation of trend. { Good to start pyramiding }

Pyramiding started around 12 noon as soon as the swing highs are broken (marked in chart)

Eventually entire profit booked as soon as trend line on 15 min timeframe was broken with confirmation from Moneyflow indicator at 2-2.15pm.

Indicators used in this analysis are custom premium indicators , you can find a detailed explanation of all signals in the script from my published scripts note.

Hope am able to clarify the levels of trade of 6th Nov.
Coordinates :
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