BANKNIFTY Intraday Trade Setup For 31 Mar 2023
Buy-Above 40055
Sl-39945
T- 40290 40535
Sell-Below 39660
Sl-39770
T- 39460 39270
BANKNIFTY has closed on a bullish sentiment with 0.86% gain on Wednesday. On Tuesday a Pinbar candle formed in daily TF and was told that we will give a good up move above its high. This view worked perfectly on last day. Buy triggered above 39700 and it made a high of 40055. Now 39700 is important level. If we sustain below 39700 then we will dive once again. However important level in the downside is 39270 (hourly TF). Bullishness is likely to continue above last day's high.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40055 then we will long for the target of 40290 and 40535.
For selling we need a 15 Min candle close below 39660. T- 39460 and 39270.
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 40055
Sl-39945
T- 40290 40535
Sell-Below 39660
Sl-39770
T- 39460 39270
BANKNIFTY has closed on a bullish sentiment with 0.86% gain on Wednesday. On Tuesday a Pinbar candle formed in daily TF and was told that we will give a good up move above its high. This view worked perfectly on last day. Buy triggered above 39700 and it made a high of 40055. Now 39700 is important level. If we sustain below 39700 then we will dive once again. However important level in the downside is 39270 (hourly TF). Bullishness is likely to continue above last day's high.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40055 then we will long for the target of 40290 and 40535.
For selling we need a 15 Min candle close below 39660. T- 39460 and 39270.
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.
