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BANKNIFTY - Intraday Analysis for 8-March-2021

Hi All,

Welcome to Strategic Fortune.

In this post, we will see the possible movement analysis for BANKNIFTY that can happen on 8-March-2021 and the same week.


Points to consider:

  • Time-frame for analysis -> 15 Minutes

  • High possibility of Market to open Gap up on 8-March-2021.

  • BANKNIFTY seem to have broken a small trend line towards upside.

 
  • If BANKNIFTY opens gap up and crosses above & sustain above 35550 level then, it can be the Bullish sign. Hence Buy Trade can be taken. (Option traders can Buy Call Option)

  • The target can be: 35765

 
  • If BANKNIFTY does not sustain 35550 level after opening, then wait for it to break 35333 level towards downside & sustain there, then it can be Bearish sign. Hence Short trade can be taken. (Option traders can Buy Put Option)

  • The target can be: 35045

 


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Mahesh T.
Mahesh T.
2021년 3월 08일

Target 1 and 2 from Buy side are met today.

Target 1: 35550

Target 2: 35765


The market moved downward from the level 35765 as 15 Min candle it did not gave closing above that level.


Hence market is back to almost same level as it was on 5-Mar's closing session. Same set up can be referred for trade on 9-Mar.


I also recommend that Book the profits timely and close the day in the Green. If you doesn't book the profit, market will do it for themselves.

좋아요
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