BANKNIFTY has closed on an absolute flat note today. For the 3rd day index is playing around 50 EMA on close to close basis. However it has formed a Pinbar candle in daily TF. Above its high there can be a good bullish move. 46750 is the level for a bullish trigger towards 47855. 46000 will be an intraday support, breakdown of which will trigger a short term bearish move. Ideal and best trade looks in the upside.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46750 then we will long for the target of 47350 and 47855.
For selling we need a 15 Min candle close below 46000. T- 45430 and 44820.
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.