BANKNIFTY has given a follow up below yesterday's shooting star candle. We planned to sell below 35750, but it opened with a decent gap down. The 10 o'clock range broke upside above 35715 and gave a move till 35880. Then below our sell level triggered and index fell till 35300.
Coming to tomorrow's trade setup, if a 15 min candle closes below 35300. Below that candle's low we will short for the target of 35075 and 34800. Book max near 34800 a hourly support and intraday PRZ is placed here.
2nd sell positioned can be created from 35700 in case this level is tested in the 1st 1 hour.
For buying we need a 15 Min candle close above 35900. Target will be 36000. Above 36100 next rally will come.
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.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.