BANKNIFTY has closed almost flat on Tuesday. It was a complete consolidation between 34100 and 34500. None trade triggered as per pre analysis. Two consecutive shooting stars formed in daily TF. Breakdown of 34100 will lead to a good fall. Bullish momentum will come above 34820.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes below 34110, then short for the target of 33950. After a bounce from this region, when the low will be broken it will head towards 33600 and 33350
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.