Simple Trade Setup | BANKNIFTY | 17-12-2021 [ INTRADAY ]

Observations:

1) On 1day time frame, today it closed below 10DMA and it is still trading below 100DMA, which is a bearish sign.
10DMA is placed at 36718.16.
100DMA is placed at 37246.61.

And also it gave closing below 36600 level.

Please refer below chart : 1day Time Frame.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date: 17-12-2021

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.

I am giving only safe levels for buy trade. But one can do scalping between the levels for both side of the trades.
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.