BANKNIFTY Intraday Trade Setup For 03 Aug 2023
Bullish-Above 45135
Invalid-Below 45025
T- 45410 45687
Bearish-Below 44720
Invalid-Above 44830
T- 44467 44215
BANKNIFTY has closed on a bearish note with 1.31% cut today. It opened with a big gap down today and it was sustained. All sell targets were hit although 10 o'clock range was valid as per analysis in today's market It was a big gap down day. 10 o'clock range broke downside below 45260 and last swing high was near 45350, around 90 points risk. It gave a trendy move till 44721. In the weekend it was said that it is sell on rise bcs it broke hourly swing low of 45620.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45135 then we will long for the target of 45410 and 45687.
For selling we need a 15 Min candle close below 44720. T- 44467 and 44215.
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.
Bullish-Above 45135
Invalid-Below 45025
T- 45410 45687
Bearish-Below 44720
Invalid-Above 44830
T- 44467 44215
BANKNIFTY has closed on a bearish note with 1.31% cut today. It opened with a big gap down today and it was sustained. All sell targets were hit although 10 o'clock range was valid as per analysis in today's market It was a big gap down day. 10 o'clock range broke downside below 45260 and last swing high was near 45350, around 90 points risk. It gave a trendy move till 44721. In the weekend it was said that it is sell on rise bcs it broke hourly swing low of 45620.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45135 then we will long for the target of 45410 and 45687.
For selling we need a 15 Min candle close below 44720. T- 44467 and 44215.
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.
