BANKNIFTY Intraday Trade Setup For 12 Jul 2023
Buy-Above 45140
Sl-45030
T- 45397 45655
Sell-Below 44660
Sl-44770
T- 44443 44220
BANKNIFTY has closed on slight bearish sentiment once again with 0.26% cut. Buy triggered as per trade setup above 44950 and gave around 1:1 then reversed without our target. Then 10 o'clock range broke downside below 44930 and gave a trendy move till 44665. On a flat opening it may give a pullback tomorrow. In case of pullback we need a find a M structure in 15 Min TF near 45000 for a short trade. It was updated yesterday that all up moves must be considered for short on a bearish structure in 5 MIN TF. Today it worked fantastic.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45140 then we will long for the target of 45397 and 45655.
For selling we need a 15 Min candle close below 44660. T- 44443 and 44220.
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 45140
Sl-45030
T- 45397 45655
Sell-Below 44660
Sl-44770
T- 44443 44220
BANKNIFTY has closed on slight bearish sentiment once again with 0.26% cut. Buy triggered as per trade setup above 44950 and gave around 1:1 then reversed without our target. Then 10 o'clock range broke downside below 44930 and gave a trendy move till 44665. On a flat opening it may give a pullback tomorrow. In case of pullback we need a find a M structure in 15 Min TF near 45000 for a short trade. It was updated yesterday that all up moves must be considered for short on a bearish structure in 5 MIN TF. Today it worked fantastic.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45140 then we will long for the target of 45397 and 45655.
For selling we need a 15 Min candle close below 44660. T- 44443 and 44220.
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.
