Simple Trade Setup & Levels | BANKNIFTY | 13-09-2021

Observations:

1) On 1 hr time frame, it is taking support from the upper trendline of the parallel channel and closed outside above parallel channel.

Please refer below chart : 1hr time frame.

2)On 15time frame, We can see that since 08-09-2021 it has been taking support from the top trendline of parallel channel and it is making good reversal from it.

Please refer below chart : 15 time frame.

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Trade Setup for Date 13-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.