BANKNIFTY Trade Idea (Intraday 16 March 2026)BANKNIFTY
• Price broke the rising channel → trend turned bearish.
• Market forming lower highs & lower lows.
Key Support: 53,500 – 53,700
Key Resistance / Supply: 56,000 – 56,200
Possible Setup:
• Bounce from 53.5K zone possible.
• Pullback towards 56K supply.
• Look for sell-on-rise opportunity.
If 53,500 breaks:
• Further downside momentum likely.
Bias: Bearish until 56K reclaimed.
Short