BANKNIFTY Intraday Trade Setup For 1 Sep 2022
Buy-Above 39610
Sl-39500
T- 39800 40000+
Sell- Below 39200
Sl-39315
T-38910 38710
BANKNIFTY has closed on a positive note on Tuesday with more than 3% gain. It was complete short covering move that took place. Last day we planned to buy above 38400 it opened with a decent gap up. In that case we already planned to trade the 10 o'clock range breakout. 10 o'clock range broke upside above 38888 and gave non stop rally till 39600.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 39610 then we will long for the target of 39800 and 40000+.
For selling we need a 15 Min candle close below 39200. Post breakdown we will short for the target of 38910. A bounce can be expected from 38900-50.
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 39610
Sl-39500
T- 39800 40000+
Sell- Below 39200
Sl-39315
T-38910 38710
BANKNIFTY has closed on a positive note on Tuesday with more than 3% gain. It was complete short covering move that took place. Last day we planned to buy above 38400 it opened with a decent gap up. In that case we already planned to trade the 10 o'clock range breakout. 10 o'clock range broke upside above 38888 and gave non stop rally till 39600.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 39610 then we will long for the target of 39800 and 40000+.
For selling we need a 15 Min candle close below 39200. Post breakdown we will short for the target of 38910. A bounce can be expected from 38900-50.
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.
