Banknifty Trade Levels for Jun 16, 2020

Seems like Bank nifty will trade between triangle for tomorrow.

If breakout happens, then safer way would be retracement only for upper side.

For breakdown (breakout on down side), Stop loss above Hammer would be great bet.

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Banknifty Levels for 22/06/2020

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As we talked in previous post, about 19/06/2020 levels, BN (Bank Nifty) gave 4 good R:R trades at our upper levels. As shown below, let's go to lower time frame as our upper level touched in hourly time frame. Above trade was for breakout traders, as we talked in previous blog and 1:1.5 & 1:2 both targets achieved. Retracemnt traders should wait for our price to come to our level again after breakout, which price did in below picture. Price again came to our level and made hammer; activating retracement trade after price close above our level, which happened after 1 candle and 1:1.5 achieved.   When again price came to our level and broke it, so breakout traders could short below candle and 1:2 achieved again. Retravement traders also got entry after 2 upside candles failed to break their previous candles' highs. 1:1.5 achieved for retracement short seller traders. So overall 4 trades were generated and...
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