BANKNIFTY Intraday Trade Setup For 28 Jul 2022
Buy-Above 36855
Sl-36730
T-37000 37200 37400
Sell-Below 36570
Sl-36700
T- 36425 36250
BANKNIFTY has closed on a positive sentiment with 1% gain and formed a bullish engulfing in daily TF. Last day we planned to sell below 36335 , sl was hit. Later buy triggered @ 36580 and it gave 230 points profit. Broader range is 37050 in the upside and 36200 in the downside. Above and below directional move is expected.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 36855 we will long for the target of 37000. If price sustains above 37050 we will head towards 37200 and 37400.
If a 5 Min candle closes below 36570, we will short for the target of 36425 and below 36400 we will hit 36250.
Chances of a big gap up and gap down is high tomorrow after FOMC meeting. We will simply wait for the 1st 45 Min and mark the high and low of the trading range and trade directional above and below the high and low of the 45 Min range.
Buy-Above 36855
Sl-36730
T-37000 37200 37400
Sell-Below 36570
Sl-36700
T- 36425 36250
BANKNIFTY has closed on a positive sentiment with 1% gain and formed a bullish engulfing in daily TF. Last day we planned to sell below 36335 , sl was hit. Later buy triggered @ 36580 and it gave 230 points profit. Broader range is 37050 in the upside and 36200 in the downside. Above and below directional move is expected.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 36855 we will long for the target of 37000. If price sustains above 37050 we will head towards 37200 and 37400.
If a 5 Min candle closes below 36570, we will short for the target of 36425 and below 36400 we will hit 36250.
Chances of a big gap up and gap down is high tomorrow after FOMC meeting. We will simply wait for the 1st 45 Min and mark the high and low of the trading range and trade directional above and below the high and low of the 45 Min range.
