BANKNIFTY Intraday Trade Setup For 21 Mar 2023
Buy-Above 39451
Sl-39340
T-39735 39925 40119
Sell-Below 39130
Sl-39240
T-38870 38615
BANKNIFTY has closed on bearish sentiment with 0.6% cut today. Today it opened with a slight gap down and sell triggered below 39220 and gave more than 180 points in the 1st go and later in the 2nd go it gave 280 points and hit 1st target. In the weekend it was very clearly told that we will give pullback before the start of the up move or reversal. It has formed a hammer in daily TF so its low and high both are important for the directional move. Above 39515 if sustained we will head higher and below 39900 we will resume the selling. Final take over level is 38600.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 39451 then we will long for the target of 39735 and 39925 and 40119.
For selling we need a 15 Min candle close below 39130. T- 38870 and 38615.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 39451
Sl-39340
T-39735 39925 40119
Sell-Below 39130
Sl-39240
T-38870 38615
BANKNIFTY has closed on bearish sentiment with 0.6% cut today. Today it opened with a slight gap down and sell triggered below 39220 and gave more than 180 points in the 1st go and later in the 2nd go it gave 280 points and hit 1st target. In the weekend it was very clearly told that we will give pullback before the start of the up move or reversal. It has formed a hammer in daily TF so its low and high both are important for the directional move. Above 39515 if sustained we will head higher and below 39900 we will resume the selling. Final take over level is 38600.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 39451 then we will long for the target of 39735 and 39925 and 40119.
For selling we need a 15 Min candle close below 39130. T- 38870 and 38615.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
