BANKNIFTY Intraday Trade Setup For 9 Sep 2022
Buy_1-Above 40270
Sl-40165
T-40465 40600
Buy_2- From 39940
Sl-39840
T-40100 40250
Sell-None
BANKNIFTY has closed on a positive sentiment with almost 2% gain. It has closed above the hourly range of 39800 which was since last 2 weeks. Important support is 39200 below which this breakout will fail. Now the next resistance is 41400. Last day we planned to buy above 39575 but it opened with a decent gap up. We already planned to trade on 10 o'clock range breakout in case of any gap up/down. It broke upside above 39990 and gave a move till 39265.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 40270 then we will long for the target of 40465 and 40600.
If it opens gap down near 39920-40 then we will long from this level for the target of 40100 and 40250.
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_1-Above 40270
Sl-40165
T-40465 40600
Buy_2- From 39940
Sl-39840
T-40100 40250
Sell-None
BANKNIFTY has closed on a positive sentiment with almost 2% gain. It has closed above the hourly range of 39800 which was since last 2 weeks. Important support is 39200 below which this breakout will fail. Now the next resistance is 41400. Last day we planned to buy above 39575 but it opened with a decent gap up. We already planned to trade on 10 o'clock range breakout in case of any gap up/down. It broke upside above 39990 and gave a move till 39265.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 40270 then we will long for the target of 40465 and 40600.
If it opens gap down near 39920-40 then we will long from this level for the target of 40100 and 40250.
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.
