Bank Nifty - 08/01/2024 - Levels

7 Jan

Hello Traders, Welcome to SriTrader5121
--------------------------------------------------
[B]Bank Nifty - 08/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 48030 – 48050
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 48040 Resistance-1: 48260
Support-2: 47890 Resistance-2: 48380
Support-3: 47800 Resistance-3: 48550
Big-Support: 47500 Big- Resistance: 48700
____________________________________________
Happy Learning and Trading – TST5121

Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
[List]
* 0.5 -> 0.5% Swing
* PDH -> Previous Day High
* PDL -> Previous Day Low
* PDC -> Previous Day Close
* PDO -> Previous Day Open
* PWH -> Previous Week High
* PWO -> Previous Week Open
* PWC -> Previous Week Close
* PWL -> Previous Week Low
* D_S -> Day Support
* D_R -> Day Resistance
* W_S -> Week Support
* W_R -> Week Resistance
* W_O -> Week Open
* W_C -> Week Close
* LW_O -> Last Week Open
* LW_C -> Last Week Close
* IMP -> Important
* R1, R2, R@3... -> Resistance-Zones
* S1, S2, S@3... -> Support-Zones
* MS -> Major Support
* SH -> Swing-High
* SL -> Swing-Low
* DT -> Double Top
* DB -> Double Bottom
* TT -> Triple Top
* TB -> Triple Bottom
* TF -> Time Frame
* BO -> Break-Out
* RR -> Risk-Reward
* SL -> Stop-Loss
* GAP -> The area b/w Previous Day Close and Today Open
* Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)


If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1.
(Or)
If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL.
Possibility 2: GAP-UP
If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(Or)
If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
(Or)
If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.