Saturday, 30 October 2021

Banknifty trade plan for 1st November 2021

My BNF trading plan for Monday 

Banknifty is in a make of break region. 

Here is my simple plan based on 5 min, 30 min, and 1-hour charts. 

I have shorted 4 lots based on multi-time fame Nimblr set up. 

My exit plan from an existing short position 

I am using the Hilega Milega set up by NK Sinha. Once 30-minute candle above RSI 50, I will exit from short positions. 

I will go long once RSI goes above 50, price trades above AVWAP for 15 minutes. 

I will do pyramiding based on Nimblr multi-timeframe CCI and candlestick pattern. 

5 points to consider for banknifty investing and trading on Monday

1. BNF closed above Friday pivot point

2  Price closed above VWAP

3. VIX is down by 1%

4. Selling pressure at 39500 PE and 39000 PE

5. BNF will trade volatile and positive till 11 AM as par Gann Astro trade set up

I will share an update on this plan on Monday post


No comments:

Post a Comment