Trading PlayBook 04/10/2022
Bank Nifty Trade Setup -
🔵Bulls could look to initiate a long trade around levels of 38300 on the formation of a bullish continuation pattern with a stop below📍38100
🔴 Bears could look to test a fade trade around levels of 39400 on the formation of a rejection pattern with a stop above the days poc
Nifty Trade Setup -
🔵 Bulls could look to test a long trade on the formation of a bullish continuation pattern around the levels of 17180 with a stop below📍17050
🔵 Alternatively bulls could look to add further delta >17300 with a stop below📍17120
🔴 Bears could look to test a
short trade around the levels of 17280 on the formation of a bullish rejection pattern with a stop above📍17350
⚠️ Note
➡️Make sure to keep an eye on the advance decline ratio
📍 Trading the indices currently requires using wide stops > 1.5 ATR
📍 Keep a close eye on the benchmarks for any change in the divergence
⚠️ Disclaimer
Information shared is for educational purposes only kindly do your own due diligence before initiating any trades
Wishing my friends a fruitful and profitable trading day 👍
Cheers ☕
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