WHY TODAY MOVE IN NIFTY GOT RANGE BOUND?Hi Traders,
This post shows the levels posted yesterday on the community tab worked so perfectly that all support and resistance were on two halts made 3 & 4 the whole day. The video link given below gives the insight of using these levels to explain the cause of range-bound movement. The idea to trade this day was posted yesterday at which point no.1 clearly mentions the range-bound trade as seen today.
yesterday Posted Idea To Trade:-
Trading Idea of bank Niftyon 9-11-2021
1)If the price opens above halt 2 and takes its support then zone 1 is your target.
2) On the contrary, if the price opens below halt 2 and takes resistance of this halt then the price would be range-bound between halt 2 and 3.
Any time halt 3 is breached then caution for longs to exit from their position. If taken out to the downside then can open shorts.
3) Any time halt 3 is breached then caution for longs to exit from their position. If was taken out to the downside then can open shorts.
4) In case of price takes out halt 1 then positional shorts should be winded up and find set up to go long.
Note _ These conditions are given to match the price behavior match these with price and take action accordingly.
Yogesh Vats
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