BANKNIFTY Intraday Trade Setup For 4 Nov 2022
BANKNIFTY Intraday Trade Setup For 4 Nov 2022
Buy-Above 41480
Sl-41370
T-41700 41911 42051
Sell-Below 41235
Sl-41345
T-40960 40820 40610
BANKNIFTY has closed on a positive note with 0.37% gain. Today it opened with a decent gap down, directly at our 1st sell target which was the major swing low in daily TF. As usual a sharp bounce came from support zone, the bounce was more than 600 in less than 2 hours. 10 o'clock range broke upside above 41335 and gave more than 140 points profit. Then index turned sideways and consolidated between 41480 and 41235. And this range will be used to build our trade next day.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 41480 then we will long for the target of 41700, 41911. If it sustains above 41950 the we will hit 42057 and 42230.
For selling we need a 15 Min candle close below 41235. Target will be 40960, 40820. Below 40800 index will dive towards 40610.
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 41480
Sl-41370
T-41700 41911 42051
Sell-Below 41235
Sl-41345
T-40960 40820 40610
BANKNIFTY has closed on a positive note with 0.37% gain. Today it opened with a decent gap down, directly at our 1st sell target which was the major swing low in daily TF. As usual a sharp bounce came from support zone, the bounce was more than 600 in less than 2 hours. 10 o'clock range broke upside above 41335 and gave more than 140 points profit. Then index turned sideways and consolidated between 41480 and 41235. And this range will be used to build our trade next day.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 41480 then we will long for the target of 41700, 41911. If it sustains above 41950 the we will hit 42057 and 42230.
For selling we need a 15 Min candle close below 41235. Target will be 40960, 40820. Below 40800 index will dive towards 40610.
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.
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