BANKNIFTY Intraday Trade Setup For 7 Jul 2022
Buy-Above 34390
Sl-34300
T-34550 34770 35050
Sell-Below 34150
Sl-34250
T-33980 33800 33565
BANKNIFTY has formed a big bodied green candle in daily TF. It has closed in a positive sentiment with more than 500 points (1.5%) gain. It has closed above the daily resistance 34150 in daily TF. Above 34400 we are likely to test 35650 in the coming days. Last day we planned to sell from 34250 it gave good profits(34250-34070). Closing is bullish as it closed above daily resistance and at day high.
Coming to tomorrow's trade setup, if index opens flat we will buy above 34390 for the target of 34550, 34770 and 35050.
If 5 Min candle closes below 34150 we will short for the target of 33980 and 33800. Fresh downside move is expected below 33750.
High probability trade is in buy side.
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.
Intraday Support- 33800
Intraday resistance- 35100
Buy-Above 34390
Sl-34300
T-34550 34770 35050
Sell-Below 34150
Sl-34250
T-33980 33800 33565
BANKNIFTY has formed a big bodied green candle in daily TF. It has closed in a positive sentiment with more than 500 points (1.5%) gain. It has closed above the daily resistance 34150 in daily TF. Above 34400 we are likely to test 35650 in the coming days. Last day we planned to sell from 34250 it gave good profits(34250-34070). Closing is bullish as it closed above daily resistance and at day high.
Coming to tomorrow's trade setup, if index opens flat we will buy above 34390 for the target of 34550, 34770 and 35050.
If 5 Min candle closes below 34150 we will short for the target of 33980 and 33800. Fresh downside move is expected below 33750.
High probability trade is in buy side.
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.
Intraday Support- 33800
Intraday resistance- 35100
