BANKNIFTY Intraday Trade Setup For 11 Mar 2022
BANKNIFTY 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.
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.
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