BANKNIFTY Intraday Trade Setup For 04 Mar 2022
BANKNIFTY Intraday Trade Setup For 04 Mar 2022
Buy-Above 35200
Sl-35100
T-35400 34600 35800
Sell-Below 34850
Sl-34950
T-34700 34500
BANKNIFTY opened with a decent gap up on Thursday and the 1st 5 min candle was a shooting star. As soon as the low of that candle broke it just fell till 34725. Also the 10 o'clock range broke downside below 35200 continued the downside journey. Also I updated not to buy today.
Coming to tomorrow's trade setup, we are going to use the last half an hour range to build our trade setup. If we get a 15 candle close above 35150 then above 35200 we will buy for the target of 35400 and 35500.
For selling we need a 15 min candle close below 34850 then below that candle low we will sell for the target of 34500.
34500-34490 can act as a support zone as this is a PRZ area. One reversal trade can be planned from here. But 1stly we will sit and on the side side.
In case of a big gap up/down we will wait till 10 o'clock and trade that range.
Buy-Above 35200
Sl-35100
T-35400 34600 35800
Sell-Below 34850
Sl-34950
T-34700 34500
BANKNIFTY opened with a decent gap up on Thursday and the 1st 5 min candle was a shooting star. As soon as the low of that candle broke it just fell till 34725. Also the 10 o'clock range broke downside below 35200 continued the downside journey. Also I updated not to buy today.
Coming to tomorrow's trade setup, we are going to use the last half an hour range to build our trade setup. If we get a 15 candle close above 35150 then above 35200 we will buy for the target of 35400 and 35500.
For selling we need a 15 min candle close below 34850 then below that candle low we will sell for the target of 34500.
34500-34490 can act as a support zone as this is a PRZ area. One reversal trade can be planned from here. But 1stly we will sit and on the side side.
In case of a big gap up/down we will wait till 10 o'clock and trade that range.
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