Banknifty Analysis With Marking levels and Trade Idea
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Hi Traders, This image of the chart shows the marking levels, I posted on Friday to make your trading easy. You can check it with the trade idea posted on same day point no.2 clearly states how to trade this index BNF. The whole move started from given levels and finished on the same levels.
Here is the trade idea posted on Friday to trade today's movement. and see point no.2 gives the complete manifestation of the move.
1) If the price opens near halt 2 and takes resistance then it will be range bound and will create a new lower limit of range much above halt 2.
2) On the contrary, if the price opens the gap up much before halt 2 then it will be range-bound creating a new lower end of the range above halt 3 and would move to halt 2.
3) If price takes out halt 2 to upside then halt 1 is the target, similarly if price takedown the halt 3 then halt 4 is the target.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.