Trading PlayBook - 28th Oct 2022
๐Ÿ”ต Sgx nifty indicating a gap up open around levels of 17860
Nifty Trade Setup
๐Ÿ”ต Bulls could look to buy dips around the levels of 17630 on the formation of a ๐Ÿป rejection pattern,stop below๐Ÿ“17580
๐Ÿ”ต Alternatively bulls could look to add further delta around levels of 17740 on the formation of a bullish continuation with a stop below ๐Ÿ“17700
๐Ÿ”ด Bears could look to test a fade trade on the formation a bullish rejection around levels of 17760 with a stop >๐Ÿ“17800
Nifty Bank Trade Setup
๐Ÿ”ต Bulls could look to buy dips around levels of 40750 on the formation of a bearish rejection pattern with a stop <๐Ÿ“40600
๐Ÿ”ต Alternatively bulls could add further delta above levels of 41450 on the formation of a bullish continuation pattern with a stop below ๐Ÿ“41160
๐Ÿ”ด Bears could look to test a fade trade around level of 41450 on the formation of a bullish rejection pattern with a stop above ๐Ÿ“41550
Note -
๐Ÿ“Benchmarks remain overbought make sure to place your trailing stop orders
โš ๏ธ Make sure to keep a check for divergences in the benchmarks
๐Ÿ“ Trading the indices currently requires using wide stops > 1.5 ATR
โš ๏ธ Disclaimer
๐Ÿ‘‰Information shared is for educational purposes only.
๐Ÿ‘‰kindly do your own due diligence before initiating any trades.
Wishing my friends a fruitful and profitable trading day ๐Ÿ‘
Cheers โ˜•