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Bankniftyintradaysetup

BANKNIFTY Intraday Trade Setup For 4 Mar 2022BANKNIFTY Intraday Trade Setup For 4 Mar 2022 Buy-Above 37210 Sl-37100 T-37350 37450 37600 Sell-None BANKNIFTY has closed above 36800. It was trading below this range since last 10 trading session. And was tested several times in the last 35 days. Finally we saw breakout of this hourly range. Now 36800 will act as a support. Closing is above 37000. Targets are open for 38600 and 39700+ in the coming weeks. It is buy on dip. NIFTY is also on the road to 18000. Coming to Monday's trade setup, it has closed at day high. Current sentiment is bullish. So, we will look for buying opportunity 1st.If index opens flat and crosses 37210, we will buy for the target of 37350 37450-37500.Taril sl to last swing lows to ride. In case of a big gap up, if the 1st 5/15 candle is a negative reversal candle then below that candle low we can plan for a short trade. Target will near Friday's closing. In case of a big gap down near 36800, if we find a bullish reversal candle near this support zone, we will buy with sl of the reversal candle. Target will again near Friday's closing. Also the 10o'clock range will be helpful in case a gap up/down opening.
NSE:BANKNIFTY
by Omahto
4
BankNifty Expiry Trade Setup | 31st MarchBankNifty opened with a gap-up near 36200 and after making a low around 36070 we saw an upmove which took BankNifty above 36400 but due to slow momentum, there were not many opportunities for Option Buyers. Trades we took today - > Bought BankNifty 36100 CE at 300, it made a high above our 1st Target 340 and Traders booked profit > Bought BankNifty 36300 PE at 300 which we booked with 50 points loss > Bought BankNifty 36100 CE at 340, it made a high above our 1st Target 390 and Traders booked profit Overall, it was a choppy day and BankNifty Option Buyers booked a small profit. Tomorrow if BankNifty sustains above 36450, we may see another upmove. Expectations for Tomorrow: Range-bound movement, Volatality after 1:25 pm. Intraday Levels: Buy Above 36450 Sell Below 35950 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
2
BANKNIFTY Intraday Trade Setup For 31 Mar 2022BANKNIFTY 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.
NSE:BANKNIFTY
by Omahto
2
BankNifty Intraday Trade Setup | 30th MarchBankNifty opened with a gap-up near 35933 and after a choppy movement in the first half BankNifty formed a low around 35500 and BankNifty gave an upmove of more than 450 points from the day's low. Trades we took today - > Bought BankNifty 36000 CE at 350, added more at 300 which we booked at 330 due to slow movement > Bought BankNifty 35900 PE at 440 which we booked with 50 points loss > Bought BankNifty 35800 CE at 360, it made a high above our 3rd Target 440 and Traders booked profit > Bought BankNifty 35800 CE at 320 which we booked with minor profit > Bought BankNifty 35900 PE at 450, it made a high above our 1st Target 500 and Traders booked profit Overall, it was a choppy day and BankNifty Option Buyers booked a small profit. Tomorrow if BankNifty sustains above 36050, we may see another upmove Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 36050 Sell Below 35650 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
2
BANKNIFTY Intraday Trade Setup For 30 Mar 2022BANKNIFTY Intraday Trade Setup For 30 Mar 2022 Buy-Above 36000 Sl-35900 T-36150 36450 Sell-Below 35480 Sl-35600 T- 35200 35000 BANKNIFTY has just consolidated in a 470 points range. We planned to buy above the daily hammer candle's high. But we discussed that if market opens gap up then we will sell below the 1st 15 Min candle low. This logic gave us a decent 250 points move downside. Index has closed near day high. So, we will buy above today's high if a 15 Min candle is closed above 35980. Safe traders can enter above 36000. Targets will be 36150 and 36450-36500. Above 36500 we can get a further move till 36620 and 36800. For selling we will use today's low as trigger. If a 15 candle closed below 36500 then below 35480 will sell for the target of 35200 and near 35000. For a good down move 15 min candle should close below 35000. Buying would be the ideal trade seeing the daily and 15 Min chart. But index needs to open flat. In case of a big gap up/down. Wait till 10 o'clock and trade that range breakout/breakdown.
NSE:BANKNIFTY
by Omahto
2
BankNifty Intraday Trade Setup | 29th MarchBankNifty opened with a small gap-up near resistance 35600 and we saw a sharp fall at open. BankNifty made low around 35000 which was a strong support zone and we again saw 700 points upmove from lower levels. Trades we took today - > Bought BankNifty 35000 PE at 390, it went above our 1st Target 440 and Traders booked profit > Bought BankNifty 35600 CE at 300, it went above our Last Target Targets 410 and Traders booked profit > Bought BankNifty 35000 CE 7th April at 660, it made a high around 900 and Traders booked great profit in this trade > Bought BankNifty 35400 PE at 340 which we booked around cost due to slow movement > Bought BankNifty 36000 CE at 330 which we booked with 40 points loss Overall, it was a good day and BankNifty option buyers booked great profit in CE. Tomorrow if BankNifty sustains above 35750, we may see another upmove Expectations for Tomorrow: Trending Day. Intraday Levels: Buy Above 35750 Sell Below 35480 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
BankNifty Intraday Trade Setup | 28th MarchBankNifty opened with a gap-up around 35717 but we saw selling at open and BankNifty made a low around 35203. Trades we took today - > Bought BankNifty 36200 CE at 320 which we booked at 305 with 15 points loss > Bought BankNifty 35000 PE at 380 which we booked at 360 with 20 points loss > Bought BankNifty 35000 PE at 320, it went above to our 3rd Target 400 and Traders booked profit > Bought BankNifty 35700 CE at 445 which we booked at 370 with 25 points profit > Bought BankNifty 35000 PE at 390, it went above to our 2nd Target 450 and Traders booked profit Overall, it was an average day. Tomorrow if BankNifty sustains below 35300, we may see a down move. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 35600 Sell Below 35300 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BANKNIFTY Intraday Trade Setup For 28 Mar 2022BANKNIFTY Intraday Trade Setup For 28 Mar 2022 Buy-Above 35750 Sl-35650 T-35900 36000 36150 Sell-Below 35200 Sl-35300 T-35000 34800 34700 BANKNIFTY has closed near the hourly support zone 35400. We have seen a good retracement from 0.618 level discussed on 21 Mar analysis. Index has given more than 1000 points downfall from there. Week was good with all the shorting trades. Only one day we saw dramatic short covering move but that did not sustain and continued its down move. Coming to Monday's trade setup, we will sell in the continuation, we will sell below 35200 (Friday's low).We need a candle close below this. Target will be 35000. It is a psychological level consider booking 80% profit and rest trail for further down move till 34800. Buying will be done only above 35750. We need a 15 Min candle close above this to build our long. Target will be near 36000 and 36150. Book max near 36000. Hold rest for any further move till 36150. A small scalp can be done above 35600 for a 100 points gain. Ideal trade will be flat opening, wait till 10 o'clock in case of a big gap up/down. Trade on the breakout/down of the 10 o'clock trading range.
NSE:BANKNIFTY
by Omahto
4
BankNifty Intraday Trade Setup | 25th MarchBankNifty opened with a gap-down around 35700 and after making a low around 35580 in the first 15 mins it showed some strength but it faced resistance around 35900 which was our sell level and we saw almost 500 points from higher levels. Trades we took today - > Bought BankNifty 35600 CE at 210, it went above to our 1st Target 250 and Traders booked profit > Bought BankNifty 36000 PE at 370 which we booked at 320 with 30 points loss > Bought BankNifty 35600 CE at 340, it went above to our 1st Target 390 and Traders booked profit > Bought BankNifty 36000 PE at 240, it went above to our 1st Target 290 and Traders booked profit > Bought BankNifty 35600 CE at 310, it went above to our Last Target 410 and Traders booked profit > Bought BankNifty 35600 CE at 170 which we booked at 140 with 30 points loss > Bought BankNifty 35500 PE at 130, it went above to our 1st Target 180 and Traders booked profit > Bought BankNifty 35400 CE at 190, it went above to our 1st Target 240 and Traders booked profit > Bought BankNifty 35400 CE at 180, it went above to our Last Target 280 and Traders booked profit > Bought BankNifty 35600 CE at 85, it went above to our 1st Target 125 and Traders booked profit Overall, it was a range-bound day as per analysis but BankNifty Option Buyers booked a great profit in 8 Trades out to 10. Tomorrow if BankNifty sustains below 35400, we may see a fast down move. Expectations for Tomorrow: Trending Day. Intraday Levels: Buy Above 35700 Sell Below 35400 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
6
BankNifty Intraday Trade Setup | 23rd MarchBankNifty opened flat at 36012, saw selling since open and slowly BankNifty made low around 35400 which acted as support zone and we saw a great recovery towards 36400 zones in the second half as per our analysis. Trades we took today - > Bought BankNifty 35700 PE at 380, it went above to our Last Target 490 and Traders booked great profit > Bought BankNifty 35500 PE at 370, it went above to our Last Target 455 and Traders booked profit > Bought BankNifty 35900 CE at 290, it went above to our 3rd Target 355 and Traders booked profit > Bought BankNifty 35700 CE at 340, it went above to our Last Target 450 and Traders booked great profit > Bought BankNifty 36200 CE at 420, it went above to our Last Target 510 and Traders booked great profit Overall, wonderful day and BankNifty Option Buyers booked insane profit. Tomorrow if BankNifty sustains above 36450, we may see a fast up move but 36600-36650 is a resistance zone so be cautious. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 36450 Sell Below 36170 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
2
BankNifty Intraday Trade Setup | 22nd MarchBankNifty opened with a small gap-up at 36573, faced sharp rejection in the 36600 zones and we saw continuous selling in the morning session. Trades we took today - > Bought BankNifty 36200 PE at 420, it went above to our Last Target 530 and Traders booked profit > Bought BankNifty 36800 CE at 290 which we booked with 15 points loss > Bought BankNifty 36000 PE at 440 and added more at 390 which we booked around cost due to slow movement > Bought BankNifty 36600 CE at 335 which we booked with 40 points loss > Bought BankNifty 36300 CE at 375, it went above to our 2nd Target 440 and Traders booked profit Overall, BankNifty Option Buyers booked small profit. Tomorrow if BankNifty sustain below 35900, we may see a fast down move. Expectations for Tomorrow: Range-bound Day. Intraday Levels: Buy Above 36200 Sell Below 35900 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
4
BANKNIFTY Intraday Trade Setup For 23 Mar 2022BANKNIFTY Intraday Trade Setup For 23 Mar 2022 Buy-Above 36620 Sl-36500 T-36820 36970 Sell-Below 36000 Sl-36100 T-35800 35550 BANKNIFTY has regained the losses made yesterday. We have been selling from 36350 level. Our plan was to short below 35900. It gave a move till 35400. All targets were hit. The a bear trap was formed with double bottom. As soon as the neckline of 35700 was breached. Index just flew till 36460+. Coming to tomorrow's trade, we will buy above 36620 if a 15 min candle closes above that. Target will be 36800 and 37000. 37000 is a psychological level. Consider booking profits there. Safe traders can enter above 36720. For selling if a 15 Min candle closes below 36100 then short below 36000 for the target of 35800 and 35600. No aggressive selling till 35350. In case of a big gap up/down. Wait till 10 o'clock and trade that range breakout/breakdown.
NSE:BANKNIFTY
by Omahto
6
BankNifty Intraday Trade Setup | 21st MarchBankNifty opened with a gap-up at 36316 and after making a low around 36260 in first 15 mins BankNifty went towards 36600 zones but it was trading in a small range with low volume so nothing much for Option Buyers. Trades we took today - > Bought BankNifty 36200 PE at 190 which we booked with 5 points loss > Bought BankNifty 36400 CE at 200, and added more at 170 which went above to our Last Target 260 and Traders booked profit > Bought BankNifty 36200 PE 24th Mar at 450, it went above to our 1st Target 510 and Traders booked profit > Bought BankNifty 36400 PE Expiry Tare at 100, it went above to our 140 and Traders booked profit Overall, it was a range-bound day but BankNifty Option Buyers booked some profit. Tomorrow if BankNifty sustain above 36620, we may see another upmove. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 36620 Sell Below 36400 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
3
BANKNIFTY Intraday Trade Setup For 22 Mar 2022BANKNIFTY Intraday Trade Setup For 22 Mar 2022 Buy-Above 36160 Sl-36060 T-36300 36500 Sell-Below 35900 Sl-36000 T-35800 35600 BANKNIFTY has closed 400 points in red. It is a complete bearish engulfing candle. We planned that index is likely to give a reversal from this level. As 0.618 level was tested and a reversal candle- shooting star was formed last day. It is a follow up to that. We planned to sell below 36350, index gave a smooth profit till 35900. It was a good trending day. Coming to tomorrow's trade setup, we will go with the current flow in sell side. Below Monday's low - 35900, we will short for the target of 35800 and 35600. If a 15 Min candle closes below 35950 then we will be ready to short below our level. For buying we will use the last swing high to build our long position. If a 15 Min candle close above 36160 then we will long for the target of 36300. Above 36350 we can get a further move till 36500. Safe traders can wait till 36200. The above analysis is based on a flat opening. In case of any big gap up/down , wait till 10 o'clock and trade that range breakout/down.
NSE:BANKNIFTY
by Omahto
BankNifty Expiry Trade Setup | 17th MarchBankNifty opened with a big gap-up at 35460 and made high around 35800 in first 30 mins which was the range for the whole day. Trades we took today - > Bought BankNifty 35200 PE at 260 which we booked with 40 points loss > Bought BankNifty 35600 PE at 320, it went above to our Last Target 430 and Traders booked profit > Bought BankNifty 35600 PE at 330, it went above to our 1st Target 380 and Traders booked profit We also updated a sell Trade on our TradingView Idea, took the trade at 35700 and it easily gave us the target for 120 points. Overall, it was a range-bound day but BankNifty Option Buyers booked some profit. Tomorrow if BankNifty sustain above 35800, we may see an upmove towards 36000 which is psychological resistance. Expectations for Tomorrow: Range-bound Day, Volatality after 1:30 PM. Intraday Levels: Buy Above 35800 Sell Below 35480 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
3
BANKNIFTY Intraday Trade Setup For 17 Mar 2022BANKNIFTY Intraday Trade Setup For 17 Mar 2022 Buy-Above 35810 Sl-35700 T-36000 36200 Sell-Below 35450 Sl-35550 T-35200 35000 BANKNIFTY opened with a very big gap up on Wednesday after closing in a negative sentiment on Tuesday. Due to this big gap up index lost its all momentum and resulted in a sideways market. Even the 10 o'clock range was not tested. Vix crashed more than 9.5% today. Coming to tomorrow's trade setup, we will use the Wednesday's trading range to trade the range shift. But index has to open flat. If index opens flat and we get a 15 Min candle close above 35800 then we will buy for the target of 36000 and 36200. In case of a big gap up, will look for shorting opportunity. After opening gap up if we get a 5 min negative candle then below that candle low we will sell. Target will be 35500 in that case. For selling if index opens flat and a 15 Min candle closes below 35500 then we will sell below 34450 for the target of 35200 and 35000. Incase of gap down wait till 10 o'clock and trade that range breakout/breakdown.
NSE:BANKNIFTY
by Omahto
BankNifty Intraday Trade Setup | 16th MarchBankNifty opened with a gap-up around 35500 and we saw an up move towards 35643 but BankNifty couldn't sustain at higher levels and we saw sharp selling in 2nd Half. Trades we took today - > Bought BankNifty 35000 PE at 350, it went above to our 3rd Target 440 and Traders booked great profit > Bought BankNifty 35600 CE at 470 which we booked with 50 points loss > Bought BankNifty 34800 PE at 360, it went above to our 1st Target 400 and Traders booked profit > Bought BankNifty 34800 PE at 310 which we booked with 40 points loss > Bought BankNifty 35800 CE at 420 which we booked with 60 points loss Overall not a good day and BankNifty Option Buyers booked loss. Tomorrow if BankNifty sustain below 34900, we may see a fast down move. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 35200 Sell Below 34900 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
7
BANKNIFTY Intraday Trade Setup For 15 Mar 2022BANKNIFTY Intraday Trade Setup For 15 Mar 2022 Buy-Above 35450 Sl-35350 T-35600 35720 35900 Sell-Below 35000 Sl-35100 T-34800 34600 34400 BANKNIFTY has closed 750+ points up today. Half the gain came from HDFCBANK alone after RBI lifted all restrictions. We planned on weekend to buy above 34700 if we get a 15 min candle close. Trade went all smooth from 34700 to 35435. It was a fantastic day as it was trending. Coming to tomorrow's trade, we will buy on swing breakout first, this is the first and ideal trade. So, we will buy 35450 on 15 Min candle close for the target of 35722 36000 36150+. For selling no aggressive selling with big targets can be achieved as of now till 34600 is safe. So between that we will eat in pieces. Last swing low in 15 Min chart is 35170, so if we trade below that then our short will be triggered below 35000, target will be 34800 and 34600 below 35000. In case we open very big gap up/down, we will wait till 10 o'clock and trade that range breakout/breakdown.
NSE:BANKNIFTY
by Omahto
3
BankNifty Intraday Trade Setup | 11th MarchBankNifty opened with a huge gap-up around 34952 and made high around 35350 where BankNifty faced rejection and we saw more than 900 points fall from day high. Trades we took today - > Bought BankNifty 35200 CE at 160 which we booked with 50 points loss > Bought BankNifty 35000 PE at 330 which we booked with 50 points loss > Bought BankNifty 35000 PE at 90, it went above to our First Target 180 and Traders booked profit > Bought BankNifty 35000 PE at 120, it went above to our Last Target 240 and Traders booked profit > Bought BankNifty 35000 CE at 130 which we booked with 40 points loss > Bought BankNifty 34500 PE at 80, it went above to our Last Target 165 and Traders booked profit. Few Traders trailed the SL and it made high above 260 Highly volatile day and BankNifty Option Buyers booked profit. Tomorrow if BankNifty sustain below 34200, we may see a down move towards 34000 zones. Expectations for Tomorrow: Trending Day. Intraday Levels: Buy Above 34600 Sell Below 34200 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
2
BankNifty Expiry Trade Setup | 10th MarchBankNifty opened with a gap-up around 33250 and we saw some weakness in the morning session which brought BankNifty towards 32950 zones but we saw a great upmove after consolidation and BankNifty made high at 33969. Trades we took today - > Bought BankNifty 33400 CE at 320 which we booked with a small profit at 355 > Bought BankNifty 33600 CE at 250 which we booked with 40 points loss > Bought BankNifty 34000 CE at 210 which we booked with 30 points loss > Bought BankNifty 33800 CE at 260, it went above to our Last Target 345 and Traders booked great profit Initially, it was a choppy session and Traders booked a small profit in BankNifty though Nifty gave a clear rally today. Tomorrow if BankNifty sustain above 33950, we may see a follow-up upmove. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 33950 Sell Below 33500 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
2
BANKNIFTY Intraday Trade Setup For 11 Mar 2022BANKNIFTY Intraday Trade Setup For 11 Mar 2022 Buy-Above 34700 Sl-34600 T- 35000 35200 35500 Sell-Below 34200 Sl-34300 T-34000 33800 33565 BANKNIFTY opened with a very big gap up on Thursday because of global market rally. We planed to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range was 35070 and 34715.We got moves in both the side. Firstly range was broke upside and we got 300 points move. Then Double top was formed and it fell till 34220 after breaking neckline of 34150. Later the 10 o'clock range was broke in that flow. It was a good profitable day. Coming to tomorrow's trade setup, firstly the best and ideal trade will be done on flat opening. If index opens between 34680 and 34220 then we will build our trade setup on breakout of the any of the level. So, if we get a 15 Min candle close above 34650 then above 34680 we will buy for the target of 35000 and 35200. Book partial profit at 35000 and keep some to ride till 35200. In case Thursday's high is breached in that flow then above 35400 will get a move till 3580. For selling if index opens flat and crosses Thursday's low i.e 34200 then build your short position targeting 34000-33900 and 33500. Selling would be the ideal trade. But do not trade with a bias, we have our levels with us to go with. In case of any gap up/down, we will use 10 o'clock range and trade that range breakout/breakdown.
NSE:BANKNIFTY
by Omahto
1
BankNifty Intraday Trade Setup | 9th MarchBankNifty opened with a gap-down at 32560 and we saw further selling and BankNifty made low around 32170. We saw a great recovery from lower levels and BankNifty went above 33250 during the day which is 1100 points upmove from day low. Trades we took today - > Bought BankNifty 33200 CE at 390, it went above to our 1st Target 430 and Traders booked profit > Bought BankNifty 33200 CE again at 340, it went above to our 2nd Target 410 and Traders booked profit > Bought BankNifty 31900 PE at 370 which we booked with 50 points loss > Bought BankNifty 33500 CE at 320 which we booked with 40 points profit > Bought BankNifty 33200 CE at 290 which we booked with 15 points loss > Bought BankNifty 31500 PE at 280 which we booked with 20 points loss > Bought BankNifty 33500 CE again 290, it went above to our Last Target 290 and Traders booked great profit Overall it was a highly volatile day, BankNifty Option Buyers booked profit. Tomorrow if BankNifty sustain above 33250, we may see an upmove. Expectations for Tomorrow: Volatile Day. Intraday Levels: Buy Above 33250 Sell Below 32900 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
4
BANKNIFTY Intraday Trade Setup For 10 Mar 2022BANKNIFTY Intraday Trade Setup For 10 Mar 2022 Buy-Above 34020 Sl-33900 T-34200 34500 34650 Sell-Below 33700 Sl-33800 T-33500 33300 BANKNIFTY has closed on a positive note on Wednesday. Shorts have been covered before a day of expiry. We planned to buy above 33300. After making a tight range below 33300, range broke and shot up till 33969. It was a good day. Coming to tomorrow's trade setup, we are going to use the last 1 hour range to build our trade for Expiry day. If we open flat and a 15 candle closes above 34000, then above 34020 or above that 15 Min candle we will buy for the target of 34200 and 34500. For selling if we get a 15 candle closes below 33727 then below 33700 we will sell for the target of 33500. 33470-33500 can give a support. But if that is broken after a bounce then next round of selling will come till 33300. Tomorrow is expiry, trade carefully. In case of any big gap/down use 10 o'clock range.
NSE:BANKNIFTY
by Omahto