BANKNIFTY Intraday Trade Setup For 3 Jan 2023
Buy-Above 43270
Sl-42160
T-43500 43725
Sell-Below 43040
Sl-43150
T-42840 42600
BANKNIFTY has closed with a bullish sentiment with 0.5% gain today. Today it opened almost flat and later buy triggered above 43210 and gave more than 150 points gain which was more than 1:1.Since last 3 trading session we have been forming consecutive inside candle in daily TF. There has been good contraction in daily and hourly TF. We are likely to give an contraction blast either side on breakout. 42800 and 42500 is very important. Keep a close eye on hourly trendlines.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43270. A pullback is needed before BO. T- 43500 above which we will test 44000.
For selling we need a 15 Min candle close below 43040.T- 42840 and 42600.
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 43270
Sl-42160
T-43500 43725
Sell-Below 43040
Sl-43150
T-42840 42600
BANKNIFTY has closed with a bullish sentiment with 0.5% gain today. Today it opened almost flat and later buy triggered above 43210 and gave more than 150 points gain which was more than 1:1.Since last 3 trading session we have been forming consecutive inside candle in daily TF. There has been good contraction in daily and hourly TF. We are likely to give an contraction blast either side on breakout. 42800 and 42500 is very important. Keep a close eye on hourly trendlines.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43270. A pullback is needed before BO. T- 43500 above which we will test 44000.
For selling we need a 15 Min candle close below 43040.T- 42840 and 42600.
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.
