This will be my trade Setup for 18 May 2023 Expiry Day for Bank Nifty:
Price is moving in upward channel making higher highs and higher lows and today also took support at rising trend line. For tomorrow i will look for following :
1. If Opens flat will look for buying above 43758 for the target of 43850, 43890 and 43900
2. If open gap up will look for rejections from those target levels and if price sustains after gap up then will look for price action to form
3. if opens gap down 43360 is support will wait for setup if price will respect that support.
This is my personal trade setup not advice of any kind.
Price is moving in upward channel making higher highs and higher lows and today also took support at rising trend line. For tomorrow i will look for following :
1. If Opens flat will look for buying above 43758 for the target of 43850, 43890 and 43900
2. If open gap up will look for rejections from those target levels and if price sustains after gap up then will look for price action to form
3. if opens gap down 43360 is support will wait for setup if price will respect that support.
This is my personal trade setup not advice of any kind.
Trade closed manually:
Today as planned yesterday bought at support and sold just before reaching today's high. many setups formed today but was able to trade twice and both trade plans were as follows :
1st trade i took on 5 minute chart after price rejected Today's high and took support at today's 1st 15 min candle and was moving in downward in descending triangle and broke upward and retested the triangle in 3 min chart i entered the trade on next candle open and exited just before today's high which was resistance. this trade worked as per my setup.
2nd trade i took at 3:15 pm without any proper setup as was busy in work and just entered PE option it was mistake, FOMO, greed and hit SL on this. and regret :)
i am glad for one thing as this was my first trade without any kind of advice from telegram or any other social media that my trade setup worked both on nifty and BNF although i didn't traded Nifty today.
follow your own setups and keep following until you succeed.
and thanks for the likes
1st trade i took on 5 minute chart after price rejected Today's high and took support at today's 1st 15 min candle and was moving in downward in descending triangle and broke upward and retested the triangle in 3 min chart i entered the trade on next candle open and exited just before today's high which was resistance. this trade worked as per my setup.
2nd trade i took at 3:15 pm without any proper setup as was busy in work and just entered PE option it was mistake, FOMO, greed and hit SL on this. and regret :)
i am glad for one thing as this was my first trade without any kind of advice from telegram or any other social media that my trade setup worked both on nifty and BNF although i didn't traded Nifty today.
follow your own setups and keep following until you succeed.
and thanks for the likes