BANKNIFTY Intraday Trade Setup For 13 Jul 2023
Buy-Above 44940
Sl-44830
T- 45185 45420
Sell-Below 44560
Sl-44670
T- 44270 43979
BANKNIFTY has closed on a bearish note once again with 0.24% cut today. Since the start of this week it has been updated everyday that index is in decline phase and all the up moves are for selling on a bearish price (M) structure in 5 Min TF. Yesterday one view was discussed that index may give a pullback till 0.618 level. It gave a dot reversal from that zone today. it is moving in a channel pattern in hourly TF. One major move may come on breakout either side.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44940 then we will long for the target of 45185 and 45420.
For selling we need a 15 Min candle close below 44560. T- 44270 and 43979.
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 44940
Sl-44830
T- 45185 45420
Sell-Below 44560
Sl-44670
T- 44270 43979
BANKNIFTY has closed on a bearish note once again with 0.24% cut today. Since the start of this week it has been updated everyday that index is in decline phase and all the up moves are for selling on a bearish price (M) structure in 5 Min TF. Yesterday one view was discussed that index may give a pullback till 0.618 level. It gave a dot reversal from that zone today. it is moving in a channel pattern in hourly TF. One major move may come on breakout either side.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44940 then we will long for the target of 45185 and 45420.
For selling we need a 15 Min candle close below 44560. T- 44270 and 43979.
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.
