BANKNIFTY Intraday Trade Setup For 27 May 2022
Buy_1-Above 35260
Sl-35100
T-35500 35700
Buy_2- From 34800
Sl-34650
T-35000 35200
BANKNIFTY broke the 1 month range and closed 2% up today. Last day we planned to buy above 34800. It hit all intraday targets. It gave a 400 points short covering move above our buy level. Rage has shifted. So approach from here will be buy on dip, above 34800. Immediate target is 35700. Final target lies near 36650.
Coming to tomorrow's trade setup, if index opens flat and a 15 min candle closes above 35230. Above its high will long for the target of 35500 and 35700.
Second buy position will be created from 34800. target will be 35000 and 35200 in that case. No aggressive selling as of now.
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- 34800
Intraday Resistance- 35700
Hourly Support- 34100
Hourly Resistance- 36000
Buy_1-Above 35260
Sl-35100
T-35500 35700
Buy_2- From 34800
Sl-34650
T-35000 35200
BANKNIFTY broke the 1 month range and closed 2% up today. Last day we planned to buy above 34800. It hit all intraday targets. It gave a 400 points short covering move above our buy level. Rage has shifted. So approach from here will be buy on dip, above 34800. Immediate target is 35700. Final target lies near 36650.
Coming to tomorrow's trade setup, if index opens flat and a 15 min candle closes above 35230. Above its high will long for the target of 35500 and 35700.
Second buy position will be created from 34800. target will be 35000 and 35200 in that case. No aggressive selling as of now.
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- 34800
Intraday Resistance- 35700
Hourly Support- 34100
Hourly Resistance- 36000
