@tradingwithnrk's activity - 1962714
Market Profile based trading levels and approach for Monday trading in BankNifty:
First Understand about Friday, market tried to show breakout at last Some auction were failed at lower levels. Hence You can not easily assume that Monday is further selling extension day or not.
For that conditional approaches are there.
Now Note-
Plan A: Selling level in case of sell at bounce may be for smaller scalping-32550 area ( only for scalping)
till today valid resistance is around 32700-32800 ATH area.
Try to find sells there if opportunity exist.
Plan B: if selling is there and it stops in that case buying levels are for intraday 32800++
and 32400
Below this wait and watch
Plan C: During the live market with above levels.
Imp Levels in Nifty are- Swing support: 14376 ( F) 14300 Zone
Resistances— 14600-700
Note— These are educational input , not trading advise. make your plans as per your understanding.
If I will get high conviction trade, I will share with you, I avoid to share scalp trades here, you cant trade those it requires multi year trading experience.
Regards— Neetesh Pathak
SEBI Reg. Research Analyst
Full-Time Trader
Telegram channel TradeWithNRK