BANKNIFTY has closed on a bearish note with 0.69% cut today. It was in bear's grip from the 1st candle onwards. As we have given a breakdown of the rising wedge pattern in hourly TF. 43930 is our short level as per this. Now it should not re-test again our entry price. So that will be our TSL now. 43390 is the hourly range low; breakdown can give us a smooth profit in our existing position. 43760 and 43500 are the levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43760 then we will long for the target of 43935 4415.
For selling we need a 15 Min candle close below 43500. T- 43268 and 43068.
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.