BANKNIFTY Intraday Trade Setup For 09 Oct 2023 || Weekly Outlook
BANKNIFTY Intraday Trade Setup For 09 Oct 2023
Bullish-Above 44505
Invalid-Below 44395
T- 44770 45040
Bearish-Below 44240
Invalid-Above 44350
T- 43995 43800
BANKNIFTY has closed with a slight cut of 0.5% last week. As per volume profile 43900 was the discussed level last week. Now resistance as per volume profile from 15 Sep High is 44650-750 zone.
It has formed a pinbar candle in weekly TF. 43570 is the high and trigger point to the bullish sentiment. 44500 and 44240 are important levels for tomorrow's session on a flat opening. Important intraday support and resistance are 44770 and 43800. High probability trade looks in the bullish side.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44505 then we will long for the target of 44770 and 45040.
For selling we need a 15 Min candle close below 44240. T- 43995 and 43800.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 44505
Invalid-Below 44395
T- 44770 45040
Bearish-Below 44240
Invalid-Above 44350
T- 43995 43800
BANKNIFTY has closed with a slight cut of 0.5% last week. As per volume profile 43900 was the discussed level last week. Now resistance as per volume profile from 15 Sep High is 44650-750 zone.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44505 then we will long for the target of 44770 and 45040.
For selling we need a 15 Min candle close below 44240. T- 43995 and 43800.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
