BANKNIFTY Intraday Trade Setup For 30 Dec 2022

BANKNIFTY Intraday Trade Setup For 30 Dec 2022

Buy_1-Above 43500
T- 43860 44170+

Buy_2- From 42990
T-43250 43500+

BANKNIFTY has closed on a bold bullish note with 1% gain. It has closed near day high which is once again a positive sign left for next trading session. This bullish momentum is likely to continue above today's high- 43500. A pullback is needed before breakout. Or else there will be issue in sl calculation as swing low will be far and due to market structure mid way a pullback can come. So 1st thing is pullback an the 2nd thing is tight trailing. As per last trade setup, buy sell an buy triggered both an gave both way profit.

Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43500 then we will long for the target of 43860 and 44170+. Pullback is needed to execute this trade.

If index gives a pullback in the 1st hour then it can test 42990. So we will plan for a buy from this level also. This level will work when it opens below or at today's high.

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.


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