Simple Trade Setup | BANKNIFTY | 12-10-2021 [INTRADAY]

11 Eki 2021

BANKNIFTY

Observations:

1) On 15 min time frame we can see that it is trading in parallel channel now. Upper line will work as resistance and bottom line will work as support.
Middle line will work as support and resistance.

Please refer below chart : 15min Time Frame.

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Trade Setup for Date 12-10-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.