BANKNIFTY Intraday Trade Setup For 24 Jul 2023
Buy-Above 46265
Sl-46155
T- 46530 46852
Sell-Below 45920
Sl-46030
T- 45640 45404
BANKNIFTY has closed on a slight bearish note last Friday by making a shooting star candle in daily TF. Weekly candle is bold with 2.8% gain. So above 46370 we will resume the up move. But below 45920 if sustained we may start the profit booking move, that's the shooting star candle low and also hourly last swing low. While intraday levels are 46265 and 45920 also be very strict in trailing in both side trades as chances of a decline move is high after an impulse. 46800 and 45400 are important resistance and support respectively in hourly TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 46265 then we will long for the target of 46530 and 46852.
For selling we need a 15 Min candle close below 45920. T- 45640 and 45404.
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 46265
Sl-46155
T- 46530 46852
Sell-Below 45920
Sl-46030
T- 45640 45404
BANKNIFTY has closed on a slight bearish note last Friday by making a shooting star candle in daily TF. Weekly candle is bold with 2.8% gain. So above 46370 we will resume the up move. But below 45920 if sustained we may start the profit booking move, that's the shooting star candle low and also hourly last swing low. While intraday levels are 46265 and 45920 also be very strict in trailing in both side trades as chances of a decline move is high after an impulse. 46800 and 45400 are important resistance and support respectively in hourly TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 46265 then we will long for the target of 46530 and 46852.
For selling we need a 15 Min candle close below 45920. T- 45640 and 45404.
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.
