BANKNIFTY Intraday Trade Setup For 31 Mar 2022
Buy-Above 36450
Sl-36350
T-36620 36820 37000
Sell-Below 36150
Sl-36250
T-36000 35850 35700
BANKNIFTY has closed 480+ points (1.36%) up today. Out of which 390+ points came through gap up. So our pre analysis levels were invalid due to this big gap up. However 10 o'clock range broke upside above 36260 and gave gave a move till 36420. Then the whole day index was eating the option premiums ahead of Monthly expiry.
Index ha closed near day high. So we will buy if a 15 Min candle closes above 36450. Safe traders should wait till 36500 is sustained. Target will be 36620 36820 and 37000. But if index opens with a big gap up then below the 1st 15 Min candle we will sell.
For selling we need a negative price action below 36200. So, in that case we will sell below 36150 for the target of 36000, 35800 and 35700. One can short below the trendline plotted.
In case of a big gap up/down, we will wait till 10 o'clock and trade this range breakout/breakdown.
Buy-Above 36450
Sl-36350
T-36620 36820 37000
Sell-Below 36150
Sl-36250
T-36000 35850 35700
BANKNIFTY has closed 480+ points (1.36%) up today. Out of which 390+ points came through gap up. So our pre analysis levels were invalid due to this big gap up. However 10 o'clock range broke upside above 36260 and gave gave a move till 36420. Then the whole day index was eating the option premiums ahead of Monthly expiry.
Index ha closed near day high. So we will buy if a 15 Min candle closes above 36450. Safe traders should wait till 36500 is sustained. Target will be 36620 36820 and 37000. But if index opens with a big gap up then below the 1st 15 Min candle we will sell.
For selling we need a negative price action below 36200. So, in that case we will sell below 36150 for the target of 36000, 35800 and 35700. One can short below the trendline plotted.
In case of a big gap up/down, we will wait till 10 o'clock and trade this range breakout/breakdown.
