12-12-2023 Nifty and Banknifty Volume Chart

Note: 1.

Never enter on any green candle in downfall in lower low formation, you can enter a small quantity on position building support. you can wait for higher high formation. You can see in the nifty chart, On recovery, it is not breaking the low but it is sowing weakness near the previous high. It is the entry point for put buyer.

Note:2.

Again after 3 red candles 1 green candle was created with high volume, don't enter because market sentiment is negative, It is going lower low formation, wait for higher high confirmation and draw the channel, showing the best flag pattern, you can enter on channel breakdown for downside move.

Note: 3.

On a daily timeframe previous day Bank Nifty has created a shooting star at an all-time high.

Note. 4.

If 3 candles do not break the low just book profit don't wait.

Comments

29-01-2024 friday daily chart

14-12-2023 Nifty and Banknifty Volume Chart

Note: Big Gap Up with high volume held the label. the trend was up. I was at a loss because I was finding down trade.

13-12-2023 Nifty and Banknifty Index Chart

Note: Enter the trade by seeing a big volume 4th candle if going upward, then the target will be yesterday's low swing. Set the target price (current premium + target point). I traded the first move in Banknifty and booked a profit. I drew this trendline that if reaches bank nifty, I will take a call, There is trendline support and 22 moving average support, but I missed it. Note: I was bullish because It is near position-building support and going in higher high formation and high volume bank nifty 09:35 candle, 11:35 Nifty candle. Note: Nifty also came on position building support at 02:00 p.m. This is the area of profit booking. It creates a flag pattern. and after 40 minutes. It gives a flag pattern breakout. I drew the pattern but did not trade it. Profit made +4000

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