NSE: Banknifty Intraday Chart 04-05-20

The day started with strength of sellers. PDL was broken. Managed to take trades on pullback in the initial drive down. BNF then moved in a range, where it looked to break the IRH but pulled back in the range. Got whipsawed in this range trying to take short position. BNF 19900 was providing resistance, but price kept bouncing back . Finally caught the downmove. But this did not have any strength and downmove did not move far away.

  1. Short scalp trade – SPB entry in direction of open drive
  2. Short scalp trade – SPB entry in direction of open drive
  3. Short trend trade – SPB entry. Hit SL.
  4. Short trend trade – SPB entry. scalped (no profit/no loss)
  5. Short trend trade – SPB entry. scalped (no profit/no loss)
  6. Short trend trade – SPB entry. Ran in my direction. but less strength. Covered before BNF reached BRN 19500 as the momentum as weak and did not want to take risk.

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Rikk

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