BANKNIFTY Intraday Trade Setup For 10 Apr 2023
Buy-Above 41110
Sl- 41000
T- 41270 41500+
Sell-Below 40940
Sl-41050
T- 40755 40580
BANKNIFTY closed on a positive note with more than 1% last week. It hit our projected target in long side which was triggered @ 39710 for the target of 41250-41350 which was the gap area. This trade was shared on 20 Mar trade setup. It hit our target and filled the gap area. Now coming to the fresh approach. Confluence of gap area and the the trendline can act as resistance and we may see a down move/pullback in the coming days. A shooting star candle can spotted in daily charts. Below its low we are likely to see a down move. Also this area cluster where it will decide the trend.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41110 then we will long for the target of 41275 and 41505.
For selling we need a 15 Min candle close below 40940. T- 40755 and 40580.
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 41110
Sl- 41000
T- 41270 41500+
Sell-Below 40940
Sl-41050
T- 40755 40580
BANKNIFTY closed on a positive note with more than 1% last week. It hit our projected target in long side which was triggered @ 39710 for the target of 41250-41350 which was the gap area. This trade was shared on 20 Mar trade setup. It hit our target and filled the gap area. Now coming to the fresh approach. Confluence of gap area and the the trendline can act as resistance and we may see a down move/pullback in the coming days. A shooting star candle can spotted in daily charts. Below its low we are likely to see a down move. Also this area cluster where it will decide the trend.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41110 then we will long for the target of 41275 and 41505.
For selling we need a 15 Min candle close below 40940. T- 40755 and 40580.
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.
