BANKNIFTY closed 200 points up today. We planned to buy above 34550. It hit our target. Our target was near 34800. As usual made a shooting star at resistance and fell till 34415. Key level for upside reversal is 34800.
Coming to tomorrow's trades setup, we are gonna buy above 34800 if a 15 Min candle closes above 34800. Above the breakout candle's high long for the target of 35000 and 35300.
If a 15 Min candle close below 34400 then short for the target of 34200 and 34000. If a range is formed below 34400 after a gap down and crosses 34400 we will ling.
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.