BANKNIFTY Intraday Trade Setup For 24 Mar 2023
Buy-Above 39825
Sl-39715
T- 40013 40200
Sell-Below 39550
Sl-39660
T- 39325 39095
BANKNIFTY has closed on a bearish sentiment with almost 1% cut today. It was a roller coaster ride today and big moves were seen both the sides. It opened with a decent gap down and then 10 o'clock range broke upside above 39967 and gave a good move till 40200+. Sl was only 100 points and with that it gave more than 200 points gain. Now above 40210 we will plan the positional buy trade for the target of 41350. Below 39550 we head towards lower zones and below 38600 we will initiate the next leg of sell off.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 39825 then we will long for the target of 40013. Post rejection above 40030 we will hit 40200+.
For selling we need a 15 Min candle close below 39550. T- 39325 and 39095.
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 39825
Sl-39715
T- 40013 40200
Sell-Below 39550
Sl-39660
T- 39325 39095
BANKNIFTY has closed on a bearish sentiment with almost 1% cut today. It was a roller coaster ride today and big moves were seen both the sides. It opened with a decent gap down and then 10 o'clock range broke upside above 39967 and gave a good move till 40200+. Sl was only 100 points and with that it gave more than 200 points gain. Now above 40210 we will plan the positional buy trade for the target of 41350. Below 39550 we head towards lower zones and below 38600 we will initiate the next leg of sell off.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 39825 then we will long for the target of 40013. Post rejection above 40030 we will hit 40200+.
For selling we need a 15 Min candle close below 39550. T- 39325 and 39095.
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.
