BANKNIFTY Intraday Trade Setup For 6 Apr 2022
Buy-Above 38800
Sl-38650
T-39000 39200 39500
Sell-Below 37940
Sl-38150
T-37665 37500 37200
BANKNIFTY has made an inside candle in today's trading session. It has traded inside yesterday's trading range. It opened near yesterday's trading session's high but could not sustain and fell immediately. A consolidation is expected after a huge non stop rally. That is what happening. Index has closed near 38000.Tomorrow's opening will be important. if opens flat then trades will good. None trades triggered as per last day analysis. 10 o'clock range broke downside but it was triggered 15 Min before closing.
Coming to tomorrow's trade setup, we will plan for a sell trade if index opens flat(ideal opening below 38100) Then if a 15 Min candle closes below 38000 then below that candle low we will sell for the target of 37700. If 37650 if not sustained the next target will be 37500 and 37200, the gap area.
For buying, we need to wait till 38800 is tested. We need a candle close above this level to initiate a buy position. Target will be 39000. This is psychological level. So be alert on this level. If no weakness if spotted then go for 39200 and 39500.
In case of a gap up/down, mark the high and low of the trading range till 10 o'clock and trade on 10 o'clock range breakout.
Buy-Above 38800
Sl-38650
T-39000 39200 39500
Sell-Below 37940
Sl-38150
T-37665 37500 37200
BANKNIFTY has made an inside candle in today's trading session. It has traded inside yesterday's trading range. It opened near yesterday's trading session's high but could not sustain and fell immediately. A consolidation is expected after a huge non stop rally. That is what happening. Index has closed near 38000.Tomorrow's opening will be important. if opens flat then trades will good. None trades triggered as per last day analysis. 10 o'clock range broke downside but it was triggered 15 Min before closing.
Coming to tomorrow's trade setup, we will plan for a sell trade if index opens flat(ideal opening below 38100) Then if a 15 Min candle closes below 38000 then below that candle low we will sell for the target of 37700. If 37650 if not sustained the next target will be 37500 and 37200, the gap area.
For buying, we need to wait till 38800 is tested. We need a candle close above this level to initiate a buy position. Target will be 39000. This is psychological level. So be alert on this level. If no weakness if spotted then go for 39200 and 39500.
In case of a gap up/down, mark the high and low of the trading range till 10 o'clock and trade on 10 o'clock range breakout.
