Banknifty Tradesetup for 16-10-2023
BankNifty important levels to watch are as follows
#Support: 44050
Sell below: 44050 only on 15 minute candle closure below the level.
Target 1: 43940
Target 2: 43760
#Resistance: 44220
Buy Above: 44220 only on 15 minute candle closure Above the level.
Target 1: 44340
Target 2: 44515
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#Support: 44050
Sell below: 44050 only on 15 minute candle closure below the level.
Target 1: 43940
Target 2: 43760
#Resistance: 44220
Buy Above: 44220 only on 15 minute candle closure Above the level.
Target 1: 44340
Target 2: 44515
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
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Disclaimer: All the Views are purely for educational purpose.
Join Our free telegram channel for more detailed market views.
For Fully automated algo trading contact us:
t.me/investyourasset
Disclaimer: All the Views are purely for educational purpose.
banknifty bounced back from the said demand zone and achieved target 1 on the upside after the break of resistance.
now the immediate demand and supply zone as per 5 min timeframe have been updated on the chart. trade accordingly.