BANKNIFTY Intraday Trade Setup For 30 Aug 2022
BANKNIFTY Intraday Trade Setup For 30 Aug 2022
Buy-Above 38400
Sl-38290
T-38635 38835 39035
Sell-Below 38160
Sl- 38270
T-37995 37665 37400
BANKNIFTY has tested the daily swing low 37945 which is the neckline for the next downside movement. It gave a sharp bounce from 38000 till 38397+. We planned to trade on the 10 o'clock range in case of any big gap up/down. But after the sharp bounce in the 1st 45 Min it just consolidated between 10 o'clock range.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 38400 then we will long for the target of 38635-55, 38835 and 39035.
For selling we need a 15 Min candle close below 38160. We will short for the target of 38000 after a bounce from 38000 if 37940 is broken then a sharp fall can be seen till 37665 and 37400.
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 38400
Sl-38290
T-38635 38835 39035
Sell-Below 38160
Sl- 38270
T-37995 37665 37400
BANKNIFTY has tested the daily swing low 37945 which is the neckline for the next downside movement. It gave a sharp bounce from 38000 till 38397+. We planned to trade on the 10 o'clock range in case of any big gap up/down. But after the sharp bounce in the 1st 45 Min it just consolidated between 10 o'clock range.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 38400 then we will long for the target of 38635-55, 38835 and 39035.
For selling we need a 15 Min candle close below 38160. We will short for the target of 38000 after a bounce from 38000 if 37940 is broken then a sharp fall can be seen till 37665 and 37400.
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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.