BANKNIFTY Intraday Trade Setup For 29 Aug 2022
Buy-Above 39225
Sl-39110
T-39400 39650
Sell-Below 38800
Sl-38910
T-38635 38475 38300
BANKNIFTY has closed made an inside candle on Friday and closed almost flat. In fact the weekly close is also absolutely flat. Next upside momentum will be above 39800 and downside move below 37950. We are likely to trade between this range.
Coming to Monday's trade setup, if we open flat and a 15 Min candle closes below 38850, we will be ready to short below 38800 for the target of 38635, 38475 and extended target will be 38300.
For buying we need a 15 Min candle close above 39225. Target will be 39470 and 39750.
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 39225
Sl-39110
T-39400 39650
Sell-Below 38800
Sl-38910
T-38635 38475 38300
BANKNIFTY has closed made an inside candle on Friday and closed almost flat. In fact the weekly close is also absolutely flat. Next upside momentum will be above 39800 and downside move below 37950. We are likely to trade between this range.
Coming to Monday's trade setup, if we open flat and a 15 Min candle closes below 38850, we will be ready to short below 38800 for the target of 38635, 38475 and extended target will be 38300.
For buying we need a 15 Min candle close above 39225. Target will be 39470 and 39750.
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.
