BANKNIFTY Intraday Trade Setup For 17 Mar 2022
Buy-Above 35810
Sl-35700
T-36000 36200
Sell-Below 35450
Sl-35550
T-35200 35000
BANKNIFTY opened with a very big gap up on Wednesday after closing in a negative sentiment on Tuesday. Due to this big gap up index lost its all momentum and resulted in a sideways market. Even the 10 o'clock range was not tested. Vix crashed more than 9.5% today.
Coming to tomorrow's trade setup, we will use the Wednesday's trading range to trade the range shift. But index has to open flat. If index opens flat and we get a 15 Min candle close above 35800 then we will buy for the target of 36000 and 36200.
In case of a big gap up, will look for shorting opportunity. After opening gap up if we get a 5 min negative candle then below that candle low we will sell. Target will be 35500 in that case.
For selling if index opens flat and a 15 Min candle closes below 35500 then we will sell below 34450 for the target of 35200 and 35000.
Incase of gap down wait till 10 o'clock and trade that range breakout/breakdown.
Buy-Above 35810
Sl-35700
T-36000 36200
Sell-Below 35450
Sl-35550
T-35200 35000
BANKNIFTY opened with a very big gap up on Wednesday after closing in a negative sentiment on Tuesday. Due to this big gap up index lost its all momentum and resulted in a sideways market. Even the 10 o'clock range was not tested. Vix crashed more than 9.5% today.
Coming to tomorrow's trade setup, we will use the Wednesday's trading range to trade the range shift. But index has to open flat. If index opens flat and we get a 15 Min candle close above 35800 then we will buy for the target of 36000 and 36200.
In case of a big gap up, will look for shorting opportunity. After opening gap up if we get a 5 min negative candle then below that candle low we will sell. Target will be 35500 in that case.
For selling if index opens flat and a 15 Min candle closes below 35500 then we will sell below 34450 for the target of 35200 and 35000.
Incase of gap down wait till 10 o'clock and trade that range breakout/breakdown.
