Nifty 50 – Bank Nifty Chart 3rd December – 7th December 2018
Weekly video on NSE Nifty 50 & Bank Nifty. In this week’s video on Nifty & Bank Nifty, I have covered Price Action Trading extensively. I will be showing how to use Price Action to identify Long or Short opportunities in the current market.
I begin this video by highlighting the importance of Price action in Trading. I have done a detailed video on Price Action earlier and today’s video draws many concepts from the video I did earlier. In this video, I have shown why one needs to focus on Price action alone for the next 6 months at least as any reversal in Trend or continuation of Trend would be more visible through Price action.
I show the importance of Range breakout pattern in Technical Analysis and how it helps Trader identify low risk long or short trading opportunities in stock market. I have also shown how Momentum, Range formation and then breakout with clear structure of higher high and higher low remains an excellent pattern to trade.
While illustrating my point further, I have taken example of Nifty, BankNifty, USDINR, Nifty IT to show how each of these major nse index have formed same range breakout pattern before reversal in Trend. I have also explained the rationale of some of the Trades I took in Nifty futures, Bank Nifty & Nifty options based on range pattern formation. In the end, I make some key observations about how to approach Nifty 50 and Bank Nifty heading ahead. Link to the Price Action trading video is given below.