February 12, 2015

BANK NIFTY buy signals on intraday charts

Have a trading plan and then trade the plan. Most people are shorting instead of buying or vice versa.

Never buy because something has fallen too much or short something because the rally was against your expectations.

On hourly charts, we have a buy signal with SL at 18740 spot.

On 15 min charts, we had the second buy signal today... SL 18740 spot

On 5 min charts, we had a buy signal above the breakout level as shown. Clearly no level to short here.

EOD charts there is no buy signal IF one is following kplswing or swing high/ low method. But if you are following candlestick patterns, you should be out of shorts and be trading long.

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