BANKNIFTY Intraday Trade Setup For 23 Mar 2023
Buy-Above 40090
Sl-39980
T- 40315 40515
Sell-Below 39835
Sl-39945
T-39600 39347
BANKNIFTY has closed on slight bullish note with 0.26% gain. After our PRZ hit on 16 Mar since then it is going up slowly and steadily and till now we have not closed below PDL. So this up move will be strong till we defend PDL (CB). Today it had formed a tiny spinning top like candle in daily TF which is a sign of halt. And it was clearly seen in today's session. It opened with a slight gap up and then buy triggered as per trade setup which hit sl as it was complete sideways. It just traded inside 10 o'clock range the whole day.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40090 then we will long for the target of 40315 and 40515.
For selling we need a 15 min candle close below 39835. T- 39600 and 39347.
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 40090
Sl-39980
T- 40315 40515
Sell-Below 39835
Sl-39945
T-39600 39347
BANKNIFTY has closed on slight bullish note with 0.26% gain. After our PRZ hit on 16 Mar since then it is going up slowly and steadily and till now we have not closed below PDL. So this up move will be strong till we defend PDL (CB). Today it had formed a tiny spinning top like candle in daily TF which is a sign of halt. And it was clearly seen in today's session. It opened with a slight gap up and then buy triggered as per trade setup which hit sl as it was complete sideways. It just traded inside 10 o'clock range the whole day.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40090 then we will long for the target of 40315 and 40515.
For selling we need a 15 min candle close below 39835. T- 39600 and 39347.
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.
