BANKNIFTY Intraday Trade Setup For 31 May 2022
Buy-Above 36100
Sl-36000
T-36300 36500 36700
Sell-Below 35745
Sl-35900
T-35550 35400 35200
BANKNIFTY closed near day low with 200 points gain. As we expected that a pullback can be seen from 36000 levels, so has happened. It opened with a big gap up and from 36000 it fell till 35750. This was a good trade, more confirmation came after 10 o'clock range broke downside below 35920.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes below 35750. Short below its low for the target of 35550, 35400 and 35200.
For buying one should wait till today's high is crossed and sustained, a 15 Min candle close above 36085.Above the breakout candle's high long for the target of 36300, 36500 and 36700.
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.
Intraday Support- 35400
Intraday Resistance- 36500
Hourly Support- 34700-800
Hourly resistance- 36700
Buy-Above 36100
Sl-36000
T-36300 36500 36700
Sell-Below 35745
Sl-35900
T-35550 35400 35200
BANKNIFTY closed near day low with 200 points gain. As we expected that a pullback can be seen from 36000 levels, so has happened. It opened with a big gap up and from 36000 it fell till 35750. This was a good trade, more confirmation came after 10 o'clock range broke downside below 35920.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes below 35750. Short below its low for the target of 35550, 35400 and 35200.
For buying one should wait till today's high is crossed and sustained, a 15 Min candle close above 36085.Above the breakout candle's high long for the target of 36300, 36500 and 36700.
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.
Intraday Support- 35400
Intraday Resistance- 36500
Hourly Support- 34700-800
Hourly resistance- 36700
