Bank nifty levels for 19/06/2020

Today price opened below yesterday's close and immediately went higher.

As seen in picture, yesterday price crossed below trend line with big down candle, but immediately small hammer formed.

High of which was crossed in today's first candle only.

Suggesting bulls are powerful. After that on trend line was real fight between bulls and bears.

Below doji our sell trade would activate and above it buy trade. Ultimately bulls won and price went above doji, activating buy trade.

Target would be day before yesterday's resistance zone, which would provide good Risk:Reward ratio.

In this case it was 2.7, which was very good for intraday point of view. And target easily achieved.

Price also went more higher, breaking day before yesterday's zone, and gave 6.14 R:R, which would have been achieved if someone would play breakout of zone or used trailing stoploss. But 2.7 R:R is also very good, so if someone didn't get full move, no worries!!

For 19/06/2020 's session, below levels should be watched out.

1. Upper boundary and reversal pattern, go for lower border target and vice versa.

2. Break out on either side,

 ~Risky player can jump in directly with same candle high/low as SL and tgt would be atleast 1.5 R:R

 ~Safe player can wait for retracement and play accordingly.