BANKNIFTY has closed on a bullish sentiment with 0.93% gain today. Today it opened it opened with 200 points then but triggered as per trade setup @ 42265 and hit both mentioned targets. This trade gave more than 400 points gain. If BANKNIFTY sustains above today's high then we will maintain the bullish sentiment triggered today. An inverse head and shoulder formation can be spotted in 15 Min TF. It will be invalid below 42330.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42720 then we will long for the target of 42950 and 43200+.
For selling we need a 15 Min candle closes below 42335. T- 42100 and 41860.
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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