Bank Nifty trade plan for 06-Oct-2020
BNF trade plan for 06-Oct-2020 using volume profile:
Upside: Crossing and sustaining above 22700 leads to upside target of 22900 and sustaining above 23000 leads all the way up to 23500. But crossing 22400 - 22700 is where resistance is going to be.
Downside: Sustaining below 22250 leads to the downside target of 21700, 21450. But 21650 - 21400 will provide good support and crossing 21100 will lead to downside target of 20900, 20800 and all the way down to 20450
Upside: Crossing and sustaining above 22700 leads to upside target of 22900 and sustaining above 23000 leads all the way up to 23500. But crossing 22400 - 22700 is where resistance is going to be.
Downside: Sustaining below 22250 leads to the downside target of 21700, 21450. But 21650 - 21400 will provide good support and crossing 21100 will lead to downside target of 20900, 20800 and all the way down to 20450
Trade closed: target reached:
06-Oct-2020: 15:21:
Gap up opening above 22700 but was rejected to retest the 22400 (yesterday POC) but it never broke the 22650 - 22550 and sustained around 22650 - 22700 and broke up to reach the target of 22900.
Gap up opening above 22700 but was rejected to retest the 22400 (yesterday POC) but it never broke the 22650 - 22550 and sustained around 22650 - 22700 and broke up to reach the target of 22900.
