BANKNIFTY has closed with a slight cut of 0.19% today. Last day it formed a Pin bar and we anticipated a bullish momentum above its high. It did not trigger our buy level as 15 Min candle did not close. Later sell triggered below 43790 and gave 100 points gain (1:1). A Pin bar candle has been formed once again in daily TF, high and low are very important for a directional move. It has formed a symmetrical triangle in 15 Min TF. Breakout of this and sustained price action will give us a good direction move.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44030. T- 44305 and 44555.
For selling we need a 15 Min candle close below 43680. T- 43480 and 43275.
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.