BANKNIFTY Intraday Trade Setup For 03 March 2022
Updated
BANKNIFTY Intraday Trade Setup For 03 March 2022
Buy-Above 35560
Sl-35460
T-35800 36000 38200
Sell-Below 34890
Sl-34990
T-34700 34600 34500
BANKNIFTY has formed a Dragonfly Doji in daily TF. It is valid and is active above today's high. The current selling may subside for some time. But main action starts above the doji candle high. Invalid below today's low.
On Monday we discussed to buy above 36280 and sell below 35600 Index opened with huge gap down. Incase of any gap/down we planned to trade the 10 o'clock range. Range broke downside below 35200 and dived till 34900. However we got confirmation before hand when inside candle in the 15 TF was formed and broke downside below 35300.
Coming to tomorrow's trade setup, as we have already discussed that BANKNIFTY has formed a reversal candle so the best trade will be in buy side above today's high 35560 for the target of 35800 and 36000.
However if index fails to sustain in the upper side and breaches today low 34890 in any case then panic selling will trigger once again.
So, we will sell only below today's low 34890 for the target of 34500.
Incase of any gap up/down we will wait till 10 o'clock and trade that range breakout/down.
Buy-Above 35560
Sl-35460
T-35800 36000 38200
Sell-Below 34890
Sl-34990
T-34700 34600 34500
BANKNIFTY has formed a Dragonfly Doji in daily TF. It is valid and is active above today's high. The current selling may subside for some time. But main action starts above the doji candle high. Invalid below today's low.
On Monday we discussed to buy above 36280 and sell below 35600 Index opened with huge gap down. Incase of any gap/down we planned to trade the 10 o'clock range. Range broke downside below 35200 and dived till 34900. However we got confirmation before hand when inside candle in the 15 TF was formed and broke downside below 35300.
Coming to tomorrow's trade setup, as we have already discussed that BANKNIFTY has formed a reversal candle so the best trade will be in buy side above today's high 35560 for the target of 35800 and 36000.
However if index fails to sustain in the upper side and breaches today low 34890 in any case then panic selling will trigger once again.
So, we will sell only below today's low 34890 for the target of 34500.
Incase of any gap up/down we will wait till 10 o'clock and trade that range breakout/down.
Trade active
avoid buyingwait for a bullish candle
Trade active
hope it is usefulupdated at the right time
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