Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
re: Day trading Nifty & Banknifty Futures
i dont trade futures so dont have chart to know S/R levels but from chart you have shared i have following observations -
1. Strength is in down so we look for shorts.
2. Just above 11160 there was attempt by buyers in morning which failed so price when reaches there expect supply to come, this is our area of trade opportunity.
3. Now the strength of 11:15 to 1200 upswing is more than expected so i will first wait for signs of weakness as it approaches 11160 zone.
4. Bearish engulf of 1200 hr candle confirmed heavy supply coming in so now get ready to short on any weak attempt of recent highs. whats weak attempt ? stall or overlapping or candles with tails.
5. Entry - around 11150.
6. S. l - above recent high.
7. Target - swing low just before 1100 hr. ( i scale out though)
You can even enter on failed break of the line(break below bull candle @ 1200hr) provided volatility is there, nifty is supporting and you know the importance of that line.
Anyone traded on such failures? Even doing adds on this is it advisable? If anyone has come across kindly guide. Thanks.
1. Strength is in down so we look for shorts.
2. Just above 11160 there was attempt by buyers in morning which failed so price when reaches there expect supply to come, this is our area of trade opportunity.
3. Now the strength of 11:15 to 1200 upswing is more than expected so i will first wait for signs of weakness as it approaches 11160 zone.
4. Bearish engulf of 1200 hr candle confirmed heavy supply coming in so now get ready to short on any weak attempt of recent highs. whats weak attempt ? stall or overlapping or candles with tails.
5. Entry - around 11150.
6. S. l - above recent high.
7. Target - swing low just before 1100 hr. ( i scale out though)
You can even enter on failed break of the line(break below bull candle @ 1200hr) provided volatility is there, nifty is supporting and you know the importance of that line.
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