23rd Jun Banknifty Review

  Trade logic of 23rd 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 market open with Green candle and 1st 5min candle high and Camarilla R3 is same place

• At 09.20 Am candle break the Camarilla R3 and next candle also open and close above Camarilla R3 and 1st 5min candle high 

• So it's perfect Camarilla R3 and 1st 5min High breakout pattern and Entry 09.30 Am candle

• Based on that we entry at Bank nifty CE option

• Today in my chart so many Pink colour Resistance line above the Camarilla R3 so it's Risky trade

• I place stop loss 50% of 09.20 AM candle

• Target was 1:2 Ratio

2nd Trade : 

• At 09.50 Am to 11.25 Am candle candle are not moving in particular fixed area it's called ZONE

• To understand ZONE breakout pattern video link given in end of the post plz check

• At 11.35Am once strong Red candle break the ZONE at down side

• Based on our zone breakout down side strategy we can enter in Banknifty PE option

• Stop loss was above the ZONE

• Target i fixed next main Resistance Camarilla R3

ZONE Breakout Strategy English video 

ZONE Breakout Strategy Tamil video