BANKNIFTY Intraday Trade Setup For 3 Mar 2023
Buy-Above 40500
Sl-40390
T- 40637 40770+
Sell-Below 40310
Sl- 40420
T-40100 39820
BANKNIFTY has closed on a bearish sentiment with 0.76% cut. After hammer formed on 23 Feb 2023. It was updated that we will give pullback of the down move above its high. Yesterday it hit our 1st target or pullback area which was calculated using ABCD (2.0). It has given Dot Reversal from there. Today it opened and tested buy level but did not trigger. Later sell triggered below 40510 and made a low of 40313. Till 1 o'clock it was just sideway with complete dead momentum due to ultra low premiums.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40500 then we will long for the target of 40637 and 40770.
For selling we need a 15 Min candle close below 40310. T- 40100. Below 40070 we will hit 39820.
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 40500
Sl-40390
T- 40637 40770+
Sell-Below 40310
Sl- 40420
T-40100 39820
BANKNIFTY has closed on a bearish sentiment with 0.76% cut. After hammer formed on 23 Feb 2023. It was updated that we will give pullback of the down move above its high. Yesterday it hit our 1st target or pullback area which was calculated using ABCD (2.0). It has given Dot Reversal from there. Today it opened and tested buy level but did not trigger. Later sell triggered below 40510 and made a low of 40313. Till 1 o'clock it was just sideway with complete dead momentum due to ultra low premiums.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40500 then we will long for the target of 40637 and 40770.
For selling we need a 15 Min candle close below 40310. T- 40100. Below 40070 we will hit 39820.
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.
