BANKNIFTY Intraday Trade Setup For 10 Oct 2023 || Daily Analysis
BANKNIFTY Intraday Trade Setup For 10 Oct 2023
Bullish-Above 44115
Invalid-Below 44005
T- 44395 44615
Bearish-below 43790
Invalid-Above 43900
T- 43524 43253
BANKNIFTY has closed on a bearish note with 1.07% cut today. It was due by the Middle East tension we opened with a gap down. It directly tested 43800, hourly support. Decent bounce came from there and then it just contracted within the 1st 15 Min candle's range. 10 o'clock was to be used as per trade setup but it was untouched. A good trendy move can be seen below 43790 now. If it sustains above 43970 tomorrow then bulls might try their grip. However we will long above 44115.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44115 then we will long for the target of 44395 and 44615.
For selling we need a 15 Min candle close below 43790. T- 43524 and 43253.
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 44115
Invalid-Below 44005
T- 44395 44615
Bearish-below 43790
Invalid-Above 43900
T- 43524 43253
BANKNIFTY has closed on a bearish note with 1.07% cut today. It was due by the Middle East tension we opened with a gap down. It directly tested 43800, hourly support. Decent bounce came from there and then it just contracted within the 1st 15 Min candle's range. 10 o'clock was to be used as per trade setup but it was untouched. A good trendy move can be seen below 43790 now. If it sustains above 43970 tomorrow then bulls might try their grip. However we will long above 44115.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44115 then we will long for the target of 44395 and 44615.
For selling we need a 15 Min candle close below 43790. T- 43524 and 43253.
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.
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