Trade can be taken on Intraday basis. Expecting strong Bullish Momentum.
BN is buy above previous day high. SL can be placed at todays low.
Exit trade @ 03:15 or Hold trade as Positional if BN is bullish enough.
TRADE IS BASED ON MY MOMENTUM BASED SYSTEM CALLED ELEVEN.
BNF IS BOUGHT OR SOLD WHEN TRADE IS TRIGGERED IN BANKNIFTY SPOT. ALL TRADES ARE POSITIONAL. SL IS TRAILED.
BOUGHT BNF @ 31700(SPOT) ON 13APR
SL @ 31330(SPOT)
ASCENDING TRIANGLE formation on 1D and 1H timeframe suggest breakout.
While INSIDEBAR formation on WEEKLY timeframe suggest BANKNIFTY to be range bound between 31200 and 28800
![BANKNIFTY: [INTRADAY] BANK NIFTY GAP BASED SHORT TRADE](https://s3.tradingview.com/t/t1YVhJ83_mid.png "[INTRADAY] BANK NIFTY GAP BASED SHORT TRADE")
![BANKNIFTY: [INTRADAY] BANK NIFTY GAP BASED LONG IDEA](https://s3.tradingview.com/g/gxx85xUs_mid.png "[INTRADAY] BANK NIFTY GAP BASED LONG IDEA")
![BANKNIFTY: BULLISH OUTLOOK ON BANK NIFTY [ELEVEN]](https://s3.tradingview.com/8/8vwqGzhZ_mid.png "BULLISH OUTLOOK ON BANK NIFTY [ELEVEN]")
![BANKNIFTY: BANK NIFTY ASCENDING TRIANGLE BREAKOUT EXPECTED [POSITIONAL]](https://s3.tradingview.com/l/LQrOu82m_mid.png "BANK NIFTY ASCENDING TRIANGLE BREAKOUT EXPECTED [POSITIONAL]")
