BANKNIFTY Intraday Trade Setup For 6 Mar 2023
Buy-Above 41400
Sl-41290
T- 41550 41710
Sell-Below 41150
Sl-41260
T-40880 40600
BANKNIFTY has closed on a bullish sentiment with with 3.36% gain. It has formed a bullish engulfing candle in weekly TF. On 23 Feb EOD it was updated that we have formed a hammer above its high there can be reversal. The very next day it was triggered and till now it has given more than 1200 points gain with just 550 points sl. Important resistance is 42000 zone. And as per bat pattern a resistance can also be seen near 41750. For selling we need a bearish price structure at-least in 15 Min TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41400 then we will long for the target of 41550 and 41710. If 41750 sustained ,we will head towards 42k.
For selling we need a 15 min candle close below 41150. T- 40880 and 40600.
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 41400
Sl-41290
T- 41550 41710
Sell-Below 41150
Sl-41260
T-40880 40600
BANKNIFTY has closed on a bullish sentiment with with 3.36% gain. It has formed a bullish engulfing candle in weekly TF. On 23 Feb EOD it was updated that we have formed a hammer above its high there can be reversal. The very next day it was triggered and till now it has given more than 1200 points gain with just 550 points sl. Important resistance is 42000 zone. And as per bat pattern a resistance can also be seen near 41750. For selling we need a bearish price structure at-least in 15 Min TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41400 then we will long for the target of 41550 and 41710. If 41750 sustained ,we will head towards 42k.
For selling we need a 15 min candle close below 41150. T- 40880 and 40600.
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.
