BANKNIFTY Intraday Trade Setup For 02 Jun 2023
Buy-Above 44000
Sl-39895
T- 44265 44515
Sell-Below 43700
Sl-43805
T- 43500 43295
BANKNIFTY has once again closed on a bearish note with 0.77% cut. Today it opened flat and traded between last day's range for the whole day. Only in the last 15 Min the range low was tested. Below today's low there will a rising wedge breakdown in hourly TF. So we can expect good down move in below the trendline in hourly TF. Bullish momentum will start above 44500. This will be a short term breakout in the daily TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44000 then we will long for the target of 44265 and 44515.
For selling we need a 15 Min candle close below 43700. T- 43500 and 43295.
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.
Buy-Above 44000
Sl-39895
T- 44265 44515
Sell-Below 43700
Sl-43805
T- 43500 43295
BANKNIFTY has once again closed on a bearish note with 0.77% cut. Today it opened flat and traded between last day's range for the whole day. Only in the last 15 Min the range low was tested. Below today's low there will a rising wedge breakdown in hourly TF. So we can expect good down move in below the trendline in hourly TF. Bullish momentum will start above 44500. This will be a short term breakout in the daily TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44000 then we will long for the target of 44265 and 44515.
For selling we need a 15 Min candle close below 43700. T- 43500 and 43295.
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.
