Bank nifty Nifty Analysis with perfect support and reistance

Hi Traders,

This post is all about the understanding of actual support and resistance with the help of trade ideas in advance for making trading comfortable. By understanding ideas given one can trade with the help of markings levels.

Point no2 of the trade idea posted in advance gives the clear understanding of target and target. Days low close of BNF shows the target of the zone is pending.

Trade Idea For Bank Nifty on 3-1-2021

1) If the price opens the gap up near halt 2 and takes resistance, then it would be range-bound between halt 2 and 3.

2) On the contrary, if it opens near halt 3 and takes the support of it then again it would be range-bound between 3 and 2.

3) Once it takes out halt 3 then zone will be your target. In case the price opens below halt 3 then it should be taken out to the downside only then shorts can be initiated for the target of zone 1, otherwise, the price will move to halt 2.

4. Zone 1 will act as good support.

Yogesh Vats