BANKNIFTY Intraday Trade Setup For 05 May 2023
Buy-Above 43740
Sl-43635
T- 43953 44165
Buy_2- From 43415
Sl-43310
T- 43570 43730+
BANKNIFTY has closed on a bullish note with 0.86% gain. Today buy triggered above 43355 and hit both the targets very smoothly. It gave more than 380 points gain, almost 1:4 RR. On 23 Apr we planned our long above 42385. After it was triggered since then we are enjoying non stop rally. Till now we have captured more than 1300 points. Last week also it was said that we are heading towards ATH. If a daily candle closes below PDL and that red candle's low is breached then our TSL will be hit and a sentimental halt will take place in that case.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43740 then we will long for the target of 43953 and 44165.
In case it opens below today's high and 43415 is tested then we will buy from there for the target of 43570 and 43730+.
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 43740
Sl-43635
T- 43953 44165
Buy_2- From 43415
Sl-43310
T- 43570 43730+
BANKNIFTY has closed on a bullish note with 0.86% gain. Today buy triggered above 43355 and hit both the targets very smoothly. It gave more than 380 points gain, almost 1:4 RR. On 23 Apr we planned our long above 42385. After it was triggered since then we are enjoying non stop rally. Till now we have captured more than 1300 points. Last week also it was said that we are heading towards ATH. If a daily candle closes below PDL and that red candle's low is breached then our TSL will be hit and a sentimental halt will take place in that case.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43740 then we will long for the target of 43953 and 44165.
In case it opens below today's high and 43415 is tested then we will buy from there for the target of 43570 and 43730+.
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.
