BANKNIFTY Intraday trade Setup For 8 Mar 2022
Buy-Above 33130
Sl-33000
T-33500 33800 34000
Sell-Below 32600
Sl- 32700
T-32400 32100 32000
BANKNIFTY opened with a very big gap down today. With that today there was some issue with NSE server issue. It continued its major trend and no major bounce was seen.
Coming to tomorrow's trade setup, we will sell below 32600 targeting Monday's low - 33380 as 1st target. Below that we will hold our short positions till 32200 and 32000.
For buying if index sustains above 33130 then can buy for the target of 33500 and 34000. But do not sit long in buy side. As major trend across all TF is negative.
Also keep position size less. As volatility has increased with rising VIX. In case of a gap up/down we need to build our trade setup with intraday data.
Buy-Above 33130
Sl-33000
T-33500 33800 34000
Sell-Below 32600
Sl- 32700
T-32400 32100 32000
BANKNIFTY opened with a very big gap down today. With that today there was some issue with NSE server issue. It continued its major trend and no major bounce was seen.
Coming to tomorrow's trade setup, we will sell below 32600 targeting Monday's low - 33380 as 1st target. Below that we will hold our short positions till 32200 and 32000.
For buying if index sustains above 33130 then can buy for the target of 33500 and 34000. But do not sit long in buy side. As major trend across all TF is negative.
Also keep position size less. As volatility has increased with rising VIX. In case of a gap up/down we need to build our trade setup with intraday data.
