BANKNIFTY Intraday Trade Setup For 4 Apr 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.
Reposted this as date was wrong.
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.
Reposted this as date was wrong.
