BANKNIFTY Intraday Trade Setup For 12 Sep 2022
Buy-Above 40475
Sl-40370
T-40655 40935 41260
Sell-Below 40280
Sl-40385
T-40040 39820 39650
BANKNIFTY has closed with 0.5% gain on Friday. A slight profit booking was seen ahead of weekend. A spinning top candle has been formed in daily charts which is sign of confusion. Above candle 's high the current uptrend will resume and below below candle's low we can expect some profit booking. Last week 39760 which was the swing high in daily charts was broken and we have seen almost 900 points fresh rally.
Coming to Monday's trades setup, if index opens flat and a 5/15 Min candle closes above 40475 then we will long for the target of 40650. Above 40700 we will head towards 40935-50.
For selling we need a 5/15 Min candle close below 40280. Post breakdown we will head towards 40042 and 39817.
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 40475
Sl-40370
T-40655 40935 41260
Sell-Below 40280
Sl-40385
T-40040 39820 39650
BANKNIFTY has closed with 0.5% gain on Friday. A slight profit booking was seen ahead of weekend. A spinning top candle has been formed in daily charts which is sign of confusion. Above candle 's high the current uptrend will resume and below below candle's low we can expect some profit booking. Last week 39760 which was the swing high in daily charts was broken and we have seen almost 900 points fresh rally.
Coming to Monday's trades setup, if index opens flat and a 5/15 Min candle closes above 40475 then we will long for the target of 40650. Above 40700 we will head towards 40935-50.
For selling we need a 5/15 Min candle close below 40280. Post breakdown we will head towards 40042 and 39817.
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.
