BANKNIFTY has formed an inside candle in daily TF. Yesterday also it was a consolidation day. It was an option seller's expiry. No trades got triggered as per last day trade setup. It just traded inside the 1st 45 Min trading range. Since few weeks it is all about ranges in both the indices. Now the range is 35800 and 35280.
Coming to tomorrow's trade setup, if a 15 Min candle closes above 35770. Above its high we will long for the target of 36000. Above 36100 it will head towards 36300.
For selling a small scalp trade can be done below 35440 if a 5 Min candle closes. Initial target will be near 35300. Below 35280 we will get a fresh move till 35050.
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.
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