BANKNIFTY Intraday Trade Setup For 16 Mar 2022
Buy-Above 35200
Sl-35100
T-35400 35600
Sell-Below 34700
Sl-34600
T-34400 34200
BANKNIFTY has closed below 35000. It opened with a mild gap up. Our plan was to buy above 35450 if we get a 15 Min candle close above that. We got closing in the 10 o'clock 15 Min candle. We got a move from 35450 to 35640, almost 200 points gain. Then double top was formed with shooting star candle at top. Below neckline of 35390 index dived till 34710.
Coming to tomorrow's trade setup, we will sell below today's low of 34700 for the target of 34500 and 34200. Safe traders can enter below 34600. Final target will be 34000.
We have seen a bounce in the last 1 hour, so we will buy above 35200 on a 15 Min candle close. target will be 35400. However if we see any gap up near 35400 then look for selling opportunity with 100 points sl.
Above 35650 we will se good upside move till 36000.Below today's high maintain sell on rise approach.
In case of any big gap up/down, wait till 10o'clock and trade that range breakout/breakdown.
Buy-Above 35200
Sl-35100
T-35400 35600
Sell-Below 34700
Sl-34600
T-34400 34200
BANKNIFTY has closed below 35000. It opened with a mild gap up. Our plan was to buy above 35450 if we get a 15 Min candle close above that. We got closing in the 10 o'clock 15 Min candle. We got a move from 35450 to 35640, almost 200 points gain. Then double top was formed with shooting star candle at top. Below neckline of 35390 index dived till 34710.
Coming to tomorrow's trade setup, we will sell below today's low of 34700 for the target of 34500 and 34200. Safe traders can enter below 34600. Final target will be 34000.
We have seen a bounce in the last 1 hour, so we will buy above 35200 on a 15 Min candle close. target will be 35400. However if we see any gap up near 35400 then look for selling opportunity with 100 points sl.
Above 35650 we will se good upside move till 36000.Below today's high maintain sell on rise approach.
In case of any big gap up/down, wait till 10o'clock and trade that range breakout/breakdown.
