Autopsy of #BankNifty Moves today
BN had been stuck in this wedge for many hours and a TL support that was tested on 4th 9th and 10th
BN had been stuck in this wedge for many hours and a TL support that was tested on 4th 9th and 10th
It started with a gap down based on global weakness but did not stay there for too long
It went and filled the morning gap and the resistance at the upper channel came into play
It then broke its first pivot on the downside and then the days low. These are all tradeble points.
IT went to the lower channel, and broke it only to sharply reverse back and retest the resistance near 20980
It again broke the larger channel and went on to fill the minor gap left on 10th morning. After doing that it Re-tested the channel and gave up again.
It then broken the lows from 9th June and retested the same again before drifting to the end.
Idea of this analysis is to show for intraday traders, how u need to be prepared bfor the day with all facets of the current situation, and levels which will give you trade opportunities of low risk and higher returns.
I dont trade intraday but anyways sharing these thoughts 🤗
I dont trade intraday but anyways sharing these thoughts 🤗
