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BANKNIFTY Intraday Trade Setup For 1 Jun 2022

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Harmonic Patterns Chart Patterns BANKNIFTY bankniftyanalysis bankniftyintradaytradesetup bankniftytradesetup bankniftyanalsyis bankniftyforecast bankniftyprediction bankniftyintradaylevels bankniftylevels
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BANKNIFTY Intraday Trade Setup For 1 Jun 2022

Buy-Above 35900
Sl-35780
T-36000 36300

Sell-Below 35280
Sl-35400
T-35075 34800

BANKNIFTY has given a follow up below yesterday's shooting star candle. We planned to sell below 35750, but it opened with a decent gap down. The 10 o'clock range broke upside above 35715 and gave a move till 35880. Then below our sell level triggered and index fell till 35300.

Coming to tomorrow's trade setup, if a 15 min candle closes below 35300. Below that candle's low we will short for the target of 35075 and 34800. Book max near 34800 a hourly support and intraday PRZ is placed here.

2nd sell positioned can be created from 35700 in case this level is tested in the 1st 1 hour.

For buying we need a 15 Min candle close above 35900. Target will be 36000. Above 36100 next rally will come.

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.

Intraday Resistance- 35700-50
Intraday Support-34800

Hourly Resistance- 36700
Hourly Support- 34100

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NIFTY Intraday Trade Setup For 1 Jun 2022
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