BANKNIFTY has closed with 2% gain on Tuesday. It went as per our plan. We planned to buy above 33800. It closed at day high at 34300. It gave 500 points gain. This was smooth. Now 34000 will act as a support. No aggressive selling from now. As index has taken a U turn.
Coming to tomorrow's trade setup, if a 15 min candle closes above today's high 34450 then above the breakout candle we will long for the target of 34600, 34800, 35000 and 35250.
In case it tests 34000 in the 1st 45 min then long from 34000 for the target of 34300, 34600 and 34800.
For selling look for a negative price action below 33900.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
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