BANKNIFTY Intraday Trade Setup For 04 Aug 2023
BANKNIFTY Intraday Trade Setup For 04 Aug 2023
Sell_1- From 44890
Sl-45000
T- 44600 44300
Sell_2- Below 44270
Sl-44380
T- 44000 43750
BANKNIFTY has closed on a bearish note once again with more than 1% cut. Sell triggered as per trade setup below 44720 and hit almost both the targets (44720-44280). Tomorrow we if there is a gap up opening near 44890 then we will short from there once again, one can take 5 Min candle low as trigger. If sell triggers below 44270 tomorrow and it reverses by making a morning star in 15 Min TF or the 10 o'clock range breakout happens in the upside then only we will consider buying.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44270 then we will short for the target of 44000 and 43750.
2nd sell position will be considered from 44890. T- 44610 and 44300.
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.
Sell_1- From 44890
Sl-45000
T- 44600 44300
Sell_2- Below 44270
Sl-44380
T- 44000 43750
BANKNIFTY has closed on a bearish note once again with more than 1% cut. Sell triggered as per trade setup below 44720 and hit almost both the targets (44720-44280). Tomorrow we if there is a gap up opening near 44890 then we will short from there once again, one can take 5 Min candle low as trigger. If sell triggers below 44270 tomorrow and it reverses by making a morning star in 15 Min TF or the 10 o'clock range breakout happens in the upside then only we will consider buying.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44270 then we will short for the target of 44000 and 43750.
2nd sell position will be considered from 44890. T- 44610 and 44300.
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.