BANKNIFTY Intraday Trade Setup For 7 Oct 2022
Buy-Above 39405
Sl-39290
T-39600 39815 40040
Sell-Below 39230
Sl-39345
T-39050 38877 39600
BANKNIFTY has closed with slight gain which is contributed only by gap up. It opened with a huge gap up and traded inside a range almost the whole day. 10 o'clock range broke upside and gave 75 points. The daily candle is a shooting star which indicates a selling pressure. Below today's low a down side move will come and upside move will be paused below PDL.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 39230 then we will short for the target of 39050, 38877 and extended target will be 38570.
For buying one should wait till a 15 Min candle closes above 39610. Aggressive traders can long above 39405 for 120-150 points target.
Be strict with RR targets with proper trailing.
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 39405
Sl-39290
T-39600 39815 40040
Sell-Below 39230
Sl-39345
T-39050 38877 39600
BANKNIFTY has closed with slight gain which is contributed only by gap up. It opened with a huge gap up and traded inside a range almost the whole day. 10 o'clock range broke upside and gave 75 points. The daily candle is a shooting star which indicates a selling pressure. Below today's low a down side move will come and upside move will be paused below PDL.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 39230 then we will short for the target of 39050, 38877 and extended target will be 38570.
For buying one should wait till a 15 Min candle closes above 39610. Aggressive traders can long above 39405 for 120-150 points target.
Be strict with RR targets with proper trailing.
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.
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.