BANKNIFTY Intraday Trade Setup For 27 Mar 2024
BANKNIFTY Intraday Trade Setup For 27 Mar 2024
Bullish-Above 46800
Invalid-Below 46690
T- 47250
Bearish-Below 46500
Invalid-Above 46610
T- 46050
BANKNIFTY has closed on a bearish note with 0.56% cut today. All this cut was contributed due to sustained gap down opening. It was a complete option seller's day as it traded within 250 points the whole day. Tomorrow above 46800 there can a short covering move as it has formed a long wick rejection candle in daily TF, only place where it can stuck is previous day closing price. Below 46500 we will plan a short trade and it will activate move towards 46050.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46800 then we will long for the target of 47250.
For selling we need a 15 Min candle close below 46500. T- 46050.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 46800
Invalid-Below 46690
T- 47250
Bearish-Below 46500
Invalid-Above 46610
T- 46050
BANKNIFTY has closed on a bearish note with 0.56% cut today. All this cut was contributed due to sustained gap down opening. It was a complete option seller's day as it traded within 250 points the whole day. Tomorrow above 46800 there can a short covering move as it has formed a long wick rejection candle in daily TF, only place where it can stuck is previous day closing price. Below 46500 we will plan a short trade and it will activate move towards 46050.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46800 then we will long for the target of 47250.
For selling we need a 15 Min candle close below 46500. T- 46050.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.