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Bank Nifty Spot Daily Chart |
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1. Bank Nifty trading in a range approximately between 17430-17170 ie. 260 points for last 3 days. Also 5 day high, low ema respectively 17521 and 17307. So high probability bank nifty will continue trading in 17521-17170.
2. Today's daily bar has created a Doji/ Hammer/ Insight bar. So simple rule: Trade the side in which market open tomorrow. If gap up take long, for gap down take short.
3. If already carrying short use inside bar trading rule i.e long above friday(30/10) bar high (17400) or trail using 5 ema (17461) or 8 ema (17490) or 10 ema (17515.5).
4. If flat open wait till inside bar break out doesn't happen ie long above 17400 short below 17170.