Here are the levels for Bank nifty to trade for tomorrow intraday. we can see on daily TF price formed a nice bearish candle and price moved sideways and nifty and bank nifty are moving in opposite and direction and closed in opposite. mark the levels and fib extension for trades and targets on chart. and there is a 20 DEMA as well and mark it. price moving in the range.
as tomorrow is an expiry and this week there is no trending day so i am expecting a trending day tomorrow. make sure you stay in the right direction. if the break the 0.382 fib level then we can the long side entry based on the volumes confirmation on the retest. but wait for the candle to close strongly then only take entry. for much safer entry let the price break the 44200 level then we can take the entry on the pull back.
if the price breaks the 0.5 fib level then we can the short entry based on the volumes confirmation on the retest but make sure the price breaks the 20 DEMA in flow with the opening or if open gap up or flat and tries to break the 20DEMA it might be a trap as well but read the candles to understand the price action and trade with the Strict SL.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.
as tomorrow is an expiry and this week there is no trending day so i am expecting a trending day tomorrow. make sure you stay in the right direction. if the break the 0.382 fib level then we can the long side entry based on the volumes confirmation on the retest. but wait for the candle to close strongly then only take entry. for much safer entry let the price break the 44200 level then we can take the entry on the pull back.
if the price breaks the 0.5 fib level then we can the short entry based on the volumes confirmation on the retest but make sure the price breaks the 20 DEMA in flow with the opening or if open gap up or flat and tries to break the 20DEMA it might be a trap as well but read the candles to understand the price action and trade with the Strict SL.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.