Trading PlayBook -7th Nov 2022
🔵 Sgx nifty indicating a gap up open > 18200
Nifty Trade Setup
🔵 Bulls could look to buy dips around the levels of 18200 on the formation of a 🐻 rejection pattern,stop below📍18000
🔵 Alternatively bulls could look to add further delta on a break above levels of 18360 on the formation of a bullish continuation pattern with a stop below
📍18200
🔴 Bears could look to test a fade trade on the formation a bullish rejection pattern around levels of 18360 with a stop > 📍18360 on the formation of a bearish rejection pattern ( make sure to place a tight stop )
Nifty Bank Trade Setup
🔵 Bulls could look to buy dips around levels of 41300 on the formation of a bearish rejection pattern with a stop
<📍40800
🔵 Alternatively bulls could add further delta above levels of 41865 on the formation of a bearish rejection pattern with a stop below 📍41500 or the days poc
🔴 Bears could look to test a fade trade around level 41500 on the formation of a bearish reversal pattern with a stop above 📍41700
Note -
📍Benchmarks remain overbought make sure to place your trailing stop orders
⚠️ Make sure to keep a check for divergence in the benchmarks
📍 Trading the indices currently requires using wide stops > 1.5 ATR
⚠️ 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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