How do I plan my Trades Today Banknifty
The last four-day price was in a range bound so I marked the support and the resistance levels.Resistance: 43550 Support: 43050
We can see that yesterday’s price was creating a new lower high in the intraday chart (5 min) and it didn’t break its lower high, selling pressure was so high, it broke our support and make 43050 as resistance.
Today’s Mind MAP for the trade (5min time Frame)
The Price opened flat today below the last day’s lower high and get rejected from the 43050 which was an important resistance.
I decided to take a trade after a proper rejection or acceptance of the price anywhere, that’s why I waited till 10 am when I found out the price was rejected from the VWAP. I take my trade my sell trade (Put Buyer) at 10 am. My target was 42521-42445 and I exit my trade at 10:35 am
Again the price was rejected from the VWAP at 11:20 am I bought PUT at 11:25 am and my target was 42445 or below. I exited at 11:50 am
Today I avoid Call Buying even when I see opportunities.
Fib levels
42810
42641
42521
42445
42344
The last four-day price was in a range bound so I marked the support and the resistance levels.Resistance: 43550 Support: 43050
We can see that yesterday’s price was creating a new lower high in the intraday chart (5 min) and it didn’t break its lower high, selling pressure was so high, it broke our support and make 43050 as resistance.
Today’s Mind MAP for the trade (5min time Frame)
The Price opened flat today below the last day’s lower high and get rejected from the 43050 which was an important resistance.
I decided to take a trade after a proper rejection or acceptance of the price anywhere, that’s why I waited till 10 am when I found out the price was rejected from the VWAP. I take my trade my sell trade (Put Buyer) at 10 am. My target was 42521-42445 and I exit my trade at 10:35 am
Again the price was rejected from the VWAP at 11:20 am I bought PUT at 11:25 am and my target was 42445 or below. I exited at 11:50 am
Today I avoid Call Buying even when I see opportunities.
Fib levels
42810
42641
42521
42445
42344