Nifty 50 – Bank Nifty Chart – 10th December – 14th December 2018

Nifty 50 – Bank Nifty Chart – 10th December – 14th December 2018

Weekly video on NSE Nifty 50 & Bank Nifty. In this week’s video on Nifty & Bank Nifty, I have covered how to take long or short trades in market with specific rules related to trading on 60 minute time frame chart. In last week’s video I had shown which price action trading pattern to target and in this week’s video I have shown how to target the same.

I have begun this video by making you understand the basics of Trend structure. I have shown how it is important to differentiate between a non – trending and trending structure. Once you understand how a Trending structure looks like, you should then know how to trade that structure in order to take long or short trade.

I have selected Nifty 50 chart as an example to illustrate my chart. Rather than not opting for a very back dated period, I have chosen 2018 Nifty chart where I have shown how to execute long trade with 60 minute chart following principles of trend trading that I have discussed in this video. I have also focused upon Stop Loss, Trailing stop and position size while explaining the overall concept.

I then move to Nifty 50 chart and Bank Nifty chart to analyse the overall Trend structure of both these key nse indices. Analysis of trend structure is important for Nifty trading strategy and Bank Nifty trading strategy. As of today, both Bank Nifty chart and Nifty 50 chart are forming a structure of higher high and higher lows on the chart.

A valid short trade in Nifty 50 and BankNifty would only come about if price were to move below 10580 on Nifty50 and below 26000 on Bank Nifty. State election results are also due on Tuesday December 11th 2018 and it will be interesting to see what happens then. In the end, I have given out Nifty support and resistance level along with same levels for Bank Nifty.

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