BANKNIFTY Intraday Trade Setup For 17 Mar 2023
Buy-Above 39385
Sl-39275
T- 39581 39785
Sell-Below 38990
Sl-39100
T-38800 38615
BANKNIFTY took a pause in the mega down move today and closed with a slight gain of 0.21% gain. Today it finally hit the positional sell target (41550-38615). Last week the continuation sell level was 40340. Now it has formed a hammer at PRZ (1.618) in daily TF so above its high it will start the pullback move. Initial pullback can come till 40000. Selling will resume below 38600 now for the target of 36750. Today sell triggered below 38930 and hit our 1st target 38615.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 39385 then we will long for the target of 39581 and 39785-800.
For selling we need a 15 Min candle close below 38990. T- 38800 and 38615.
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 39385
Sl-39275
T- 39581 39785
Sell-Below 38990
Sl-39100
T-38800 38615
BANKNIFTY took a pause in the mega down move today and closed with a slight gain of 0.21% gain. Today it finally hit the positional sell target (41550-38615). Last week the continuation sell level was 40340. Now it has formed a hammer at PRZ (1.618) in daily TF so above its high it will start the pullback move. Initial pullback can come till 40000. Selling will resume below 38600 now for the target of 36750. Today sell triggered below 38930 and hit our 1st target 38615.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 39385 then we will long for the target of 39581 and 39785-800.
For selling we need a 15 Min candle close below 38990. T- 38800 and 38615.
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.
