BANKNIFTY Intraday Trade Setup For 11 Apr 2023
Buy-Above 40871
Sl-40760
T-41070 41270+
Sell-Below 40725
Sl-40835
T- 40530 40345
BANKNIFTY has closed on a slight bearish sentiment with 0.5% cut. Sell triggered as per trade setup and 1:1 and then it reversed which ended with NPNL . Later in the 2nd half sell triggered once again and 200+ points gain (1:2). After 6 trading session today it closed below PDL. Fun fact is that it happened after our long target (gap area) was hit. Now below today's low the down move may continue. Above 41275 which is the recent high next leg of bullish momentum will start. Keep trailing tight in these days with RR and as price moves.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40871 then we will long for the target of 41070. Above 41075 we will hit 41270+.
For selling we need a 15 Min candle close below 40725. T- 40530 and 40345.
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 40871
Sl-40760
T-41070 41270+
Sell-Below 40725
Sl-40835
T- 40530 40345
BANKNIFTY has closed on a slight bearish sentiment with 0.5% cut. Sell triggered as per trade setup and 1:1 and then it reversed which ended with NPNL . Later in the 2nd half sell triggered once again and 200+ points gain (1:2). After 6 trading session today it closed below PDL. Fun fact is that it happened after our long target (gap area) was hit. Now below today's low the down move may continue. Above 41275 which is the recent high next leg of bullish momentum will start. Keep trailing tight in these days with RR and as price moves.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40871 then we will long for the target of 41070. Above 41075 we will hit 41270+.
For selling we need a 15 Min candle close below 40725. T- 40530 and 40345.
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.
