Trading PlayBook - 28th Oct 2022
๐ต Sgx nifty indicating a gap up open around levels of 17860
Nifty Trade Setup
๐ต Bulls could look to buy dips around the levels of 17630 on the formation of a ๐ป rejection pattern,stop below๐17580
๐ต Alternatively bulls could look to add further delta around levels of 17740 on the formation of a bullish continuation with a stop below ๐17700
๐ด Bears could look to test a fade trade on the formation a bullish rejection around levels of 17760 with a stop >๐17800
Nifty Bank Trade Setup
๐ต Bulls could look to buy dips around levels of 40750 on the formation of a bearish rejection pattern with a stop <๐40600
๐ต Alternatively bulls could add further delta above levels of 41450 on the formation of a bullish continuation pattern with a stop below ๐41160
๐ด Bears could look to test a fade trade around level of 41450 on the formation of a bullish rejection pattern with a stop above ๐41550
Note -
๐Benchmarks remain overbought make sure to place your trailing stop orders
โ ๏ธ Make sure to keep a check for divergences in the benchmarks
๐ Trading the indices currently requires using wide stops > 1.5 ATR
โ ๏ธ Disclaimer
๐Information shared is for educational purposes only.
๐kindly do your own due diligence before initiating any trades.
Wishing my friends a fruitful and profitable trading day ๐
Cheers โ