14th Jun Bank nifty review

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 Trade logic of 14th Jun 2022 Bank nifty

Chart Setup: 

· I use only Bank nifty indices (Spot) chart i never use the bank nifty options chart (or) bank nifty Futures chart

 · I use only 5 min time frame i never use other time frame like 3 min, 1 min or Higher time frame 15 min & 30 min

· To mark the 1st 5 min candle high and low 

All above 3 points are set after that only i planned for trading 

Indicator : 

· I use the Camarilla Pivot point indicator "R3" & "S3" (Only the Resistance 3 & Support 3) 


1st trade:

  • Today at 09.30 am one strong Green candle taking support at 1at 5 min candle low and next candle also green so it's proper 1st 5 min candle low rejection pattern but immediately our Camarilla S3 in that place so i avoid this trade
  • Upto 1 hour 1st 5 min candle breakout not happen at both side so mark the 1st ONE hour High 
  • Today 1st 5min and one hour High are placed very near by and important Resistance (33382) also very near by of one hour High
  • Resistance 33382 is yesterday market very struggle to break this level 2 time. So i feel that is strong area So i marked that area
  • Already market movement is upside from 1st 5 min low rejection so if that 3 Resistance line broken with proper breakout high possibility for upside
  • 10.30Am Green candle break the all 3 resistance line and next candle also green open and close above the 33382 resistance line so it's proper Resistance breakout pattern
  • Target as next resistance camarilla R3
  • Stop loss was below 1st 5 min candle high

2nd trade:
  • At 11.00 Am strong green candle break the camarilla R3 and next candle also break open and close above the Camarilla R3 but 33616 is one resistance line available in chart
  • 33616 is 19th May 2022 market reversal area
  • So as per our trade logic candle face the support or Resistance 2 possibility may happen 1 is breakout and anot6 1 is rejection so wait always we wait for perfect pattern
  • Based on that market unable to break the 33616 resistance line and market reversal happen 

  • After that perfect Camarilla R3 breakout pattern happen at down side 
  • So stop loss placed above the 333616 resistance line
  • Target as 1st 5 min candle high



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