Bank Nifty Trade Setup (12-June-2023)
This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Bank Nifty selling of and forming shooting star candles... what should we expect ? Is it trend reversal ? or is it profit booking buy previously holding stocks ?
Day traders shouldn't worry about long term...
So for tomorrow this will be my trade setup:
1.) If opens flat which is near trendline or above it and horizontal reistance (44060) and takes support there i will buy for target of 44250.
2.) If opening flat and broke both trendline and resistance of 44060 keep acting as resistance i will short for target of 1st support 43850, then 2nd support 43730.
3.) Big gap up or down will stay away from market unless there is good setup.
Bank Nifty selling of and forming shooting star candles... what should we expect ? Is it trend reversal ? or is it profit booking buy previously holding stocks ?
Day traders shouldn't worry about long term...
So for tomorrow this will be my trade setup:
1.) If opens flat which is near trendline or above it and horizontal reistance (44060) and takes support there i will buy for target of 44250.
2.) If opening flat and broke both trendline and resistance of 44060 keep acting as resistance i will short for target of 1st support 43850, then 2nd support 43730.
3.) Big gap up or down will stay away from market unless there is good setup.
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