BANKNIFTY Intraday Trade Setup For 5 Sep 2022
Buy-Above 39600
Sl-39490
T-39845 40100
Sell-Below 39200
Sl-39320
T-38970 38790
BANKNIFTY has closed on a flat note with slight gain and formed a doji candle in daily TF. Closing above and below the high and low of the doji will give us sentimental direction next day. Broader range is 39800 and 37900. Above and below this range a directional move is expected.
In weekly TF it is still positive.
Coming to Monday's trade setup, if index opens flat and a 5/15 Min candle closes above 39600 then we will long for the target of 39845, 40000 and 40100.
For selling we need a 5/15 Min candle close below 39200 then we will short for the target of 38970 and 38787. Post a bounce from 38800 zone if this support breaks then we will see a good downside move.
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 39600
Sl-39490
T-39845 40100
Sell-Below 39200
Sl-39320
T-38970 38790
BANKNIFTY has closed on a flat note with slight gain and formed a doji candle in daily TF. Closing above and below the high and low of the doji will give us sentimental direction next day. Broader range is 39800 and 37900. Above and below this range a directional move is expected.
In weekly TF it is still positive.
Coming to Monday's trade setup, if index opens flat and a 5/15 Min candle closes above 39600 then we will long for the target of 39845, 40000 and 40100.
For selling we need a 5/15 Min candle close below 39200 then we will short for the target of 38970 and 38787. Post a bounce from 38800 zone if this support breaks then we will see a good downside move.
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.
