re: Day trading Nifty & Banknifty Futures
Line of Least Resistance
It is a law of science that the water or electricity flows through line of least resistance. Any trader if he monitors the screen after his trade, understands what the line of least resistance is.
In todays nifty futures, after opening, it sold off...then bounced back. It made 2 attempts to go down but both these attempts did not give sustained moves...it was just giving 12-15 points and if not booked quickly, it gave pivot breakdown failures and bounced back above the pivot which it broke....
TDST resistance levels also were breached on the upside which clearly indicated that "The line of least resistance is definately not down...but it is in upward direction." And in the afternoon session, the market thrusted through its line of least resistance which was upwards.
An alert trader can learn a lot from how market behaves at various supports/resistances .
Smart_trade