08th Jun Bank nifty

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Trade logic of Bank nifty on 08th Jun 2022


1st Trade:

  • At 09.30 AM Red candle cross the 1st 5min candle low from upto down side and next candle is also red open and close below 1st 5min candle low
  • So it's called 1st 5 min candle low breakout pattern
  • Entry candle is 09.40 am candle
  • Target is next support Camarilla S3
  • Stop loss was above the Camarilla R3


2nd trade: 
  • At 10.40 AM one Green candle try to break the one of my resistance and failed
  • Next candle 10.45 am get rejection from that resistance and next also red open and close below that resistance line
  • So it's called perfect Resistance rejection pattern
  • Target is 1st 5 min candle high
  • Stop loss was above today's high Candle


To understand what is support and Resistance and how to draw support & Resistance plz watch the below video


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