BANKNIFTY Intraday Trade Setup For 8 Mar 2023
Buy-Above 41405
Sl-41295
T-41560 41715
Sell-Below 41255
Sl-41365
T-41115 40969 40770
BANKNIFTY has closed with slight gain of 0.24%. Last day it hit the pullback target which was discussed after the activation of hammer which was formed on 23 Feb. Last day buy triggered as per trade setup above 41400. This trade gave more than 250 points gain. Later it made a top at 41675 and fell till 41260. It has formed a shooting star in daily TF. So above its high if sustained we will head higher towards 42000. Below its low we can expect some downside momentum.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41405 then we will long for the target of 41560 and 41715.
For selling we need a 15 min candle close below 41255. T- 41115 and 40969. Below 40950 fall can be extended.
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 41405
Sl-41295
T-41560 41715
Sell-Below 41255
Sl-41365
T-41115 40969 40770
BANKNIFTY has closed with slight gain of 0.24%. Last day it hit the pullback target which was discussed after the activation of hammer which was formed on 23 Feb. Last day buy triggered as per trade setup above 41400. This trade gave more than 250 points gain. Later it made a top at 41675 and fell till 41260. It has formed a shooting star in daily TF. So above its high if sustained we will head higher towards 42000. Below its low we can expect some downside momentum.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41405 then we will long for the target of 41560 and 41715.
For selling we need a 15 min candle close below 41255. T- 41115 and 40969. Below 40950 fall can be extended.
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.
