BANKNIFTY INTRADAY CHART 20-APR-20

As per weekly wrap, we saw BNF near an important Resistance level. Last trading day was a big uptrend. Bias was up .Post open, BNF failed to break the weekly levels marked in red PDH and PDL not highlighted as they were closed to Weekly levels . Price retraced back thus creating IRL with a big green Candle. Range was identified early on. Identifying the market structure is very important. Post noon, BNF moved in a small range within the bigger range of the day. Hence most trades were scalp trades (will detail out my definition of scalp and trend trades). Moved to a 1 min time frame to trade as in a small range the move gets over by the time you see suitable entries.

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