BANKNIFTY Intraday Trade Setup For 27 Mar 2023
Buy-Above 39515
Sl-39405
T- 39750 40000
Sell-Below 39290
Sl-39400
T- 39089 38884
BANKNIFTY has closed on a bearish sentiment last week and day with 0.5% cut. Important levels in the daily TF are 40210 and 38600. Above 40210 we will see reversal and head towards 41350 and below 38600 we will resume the selling and this time it can give a sharp panic low. This leg can take BNF towards 36800-37000. Also if we make a bullish candle this week then we can reverse for the short term. Till then same approach of sell on rise will be followed.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39515 then we will long for the target of 39750 and 40000.
For selling we need a 15 Min candle close below 39290. T- 39089 and 38884.
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 39515
Sl-39405
T- 39750 40000
Sell-Below 39290
Sl-39400
T- 39089 38884
BANKNIFTY has closed on a bearish sentiment last week and day with 0.5% cut. Important levels in the daily TF are 40210 and 38600. Above 40210 we will see reversal and head towards 41350 and below 38600 we will resume the selling and this time it can give a sharp panic low. This leg can take BNF towards 36800-37000. Also if we make a bullish candle this week then we can reverse for the short term. Till then same approach of sell on rise will be followed.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39515 then we will long for the target of 39750 and 40000.
For selling we need a 15 Min candle close below 39290. T- 39089 and 38884.
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.
