BANKNIFTY Intraday Trade Setup For 1 Nov 2022
BANKNIFTY Intraday Trade Setup For 1 Nov 2022
Buy-Above 41355
Sl-41250
T-41500 41680 41850
Sell-Below 41215
Sl-41315
T-41105 40980 40840
BANKNIFTY has closed on a positive note with 0.77% gain. Today it directly opened at our 1st target in buy side and fell 150 points from there. Then it turned sideways and consolidated between 10 o'clock range. Next day trade will be based on today's range. Important swing low in daily TF is 40839. Below which a bearish price action can established. If it sustains above ATH then we can see a good up move. Monthly TF chart looks bullish above ATH.
Coming to Tuesday's trade setup, if index opens flat and a 5/15 Min candle closes above 41355 then we will long for the target of 41500+. Above 41550 if sustained then we will test ATH levels.
For selling we need a 15 Min candle close below 41215/ Target will be 41105. Below 41105 we will hit next targets - 40980 and 40840.
Range in 15 Min TF is 41531 and 40835.
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 41355
Sl-41250
T-41500 41680 41850
Sell-Below 41215
Sl-41315
T-41105 40980 40840
BANKNIFTY has closed on a positive note with 0.77% gain. Today it directly opened at our 1st target in buy side and fell 150 points from there. Then it turned sideways and consolidated between 10 o'clock range. Next day trade will be based on today's range. Important swing low in daily TF is 40839. Below which a bearish price action can established. If it sustains above ATH then we can see a good up move. Monthly TF chart looks bullish above ATH.
Coming to Tuesday's trade setup, if index opens flat and a 5/15 Min candle closes above 41355 then we will long for the target of 41500+. Above 41550 if sustained then we will test ATH levels.
For selling we need a 15 Min candle close below 41215/ Target will be 41105. Below 41105 we will hit next targets - 40980 and 40840.
Range in 15 Min TF is 41531 and 40835.
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.