BANKNIFTY Intraday Trade Setup For 07 Sep 2023
Bullish-Above 44670
Invalid-Below 44560
T- 44950 44275
Bearish-Below 44200
Invalid-Above 44310
T- 43965 43725
BANKNIFTY has closed with a slight cut of 0.28% today. It opened flat and sell triggered as per trade setup below 44400 and gave a decent move of 180 points till 44210. Once again a pinbar candle in daily TF but of no use inside the daily range. Daily range is still intact- 44k and 45k. Tomorrow above today's high if sustained in 15 Min TF then there can be a bullish momentum. However we will buy above 44670. It will bearish below 44200.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and above 44k 44275-95.
For selling we need a 15 Min candle close below 44200. T- 43965 and 43725.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 44670
Invalid-Below 44560
T- 44950 44275
Bearish-Below 44200
Invalid-Above 44310
T- 43965 43725
BANKNIFTY has closed with a slight cut of 0.28% today. It opened flat and sell triggered as per trade setup below 44400 and gave a decent move of 180 points till 44210. Once again a pinbar candle in daily TF but of no use inside the daily range. Daily range is still intact- 44k and 45k. Tomorrow above today's high if sustained in 15 Min TF then there can be a bullish momentum. However we will buy above 44670. It will bearish below 44200.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and above 44k 44275-95.
For selling we need a 15 Min candle close below 44200. T- 43965 and 43725.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
