BANKNIFTY Intraday Trade Setup For 21 Mar 2022
Buy-Above 36620
Sl-36500
T-36820 36970
Sell-Below 36350
Sl-36450
T-36050 35800
BANKNIFTY has closed almost 2% up On Friday. Max came through gap up. It was a complete sideways trading session. Index has given a V- Shaped recovery from 35200 levels. Seeing the daily candle it is weak candle(kind of shooting star.) Also near it 0.618(High of 3 Feb Low Of 8 Mar). However reversal candle will be active below 36250.
Coming to Monday's trade setup based on flat opening, we will buy above 36600 if we get a 15 Min candle close above it. Targets will be 36800 and 37000.Psychological level 37000 can act as resistance. Book max here.
For selling, if we get a 15 Min candle close below 36380 then below 36350 we will sell for the target of 36200 and 36050. 36000-36050 can give support so book 80% there. Below this Another round of selling till 35750 can be seen.
Seeing global market, we are likely to open with a decent gap up. Wait till 10 o'clock and trade that range breakout/breakdown. But if we get a 5 Min negative candle then we will sell below that candle low. This is a aggressive trade. Safe traders can enter below 15 Min candle low.
Buy-Above 36620
Sl-36500
T-36820 36970
Sell-Below 36350
Sl-36450
T-36050 35800
BANKNIFTY has closed almost 2% up On Friday. Max came through gap up. It was a complete sideways trading session. Index has given a V- Shaped recovery from 35200 levels. Seeing the daily candle it is weak candle(kind of shooting star.) Also near it 0.618(High of 3 Feb Low Of 8 Mar). However reversal candle will be active below 36250.
Coming to Monday's trade setup based on flat opening, we will buy above 36600 if we get a 15 Min candle close above it. Targets will be 36800 and 37000.Psychological level 37000 can act as resistance. Book max here.
For selling, if we get a 15 Min candle close below 36380 then below 36350 we will sell for the target of 36200 and 36050. 36000-36050 can give support so book 80% there. Below this Another round of selling till 35750 can be seen.
Seeing global market, we are likely to open with a decent gap up. Wait till 10 o'clock and trade that range breakout/breakdown. But if we get a 5 Min negative candle then we will sell below that candle low. This is a aggressive trade. Safe traders can enter below 15 Min candle low.
