BANKNIFTY Intraday Trade Setup For 25 Jul 2023
Bullish-above 46095
Invalid- below 45985
T- 46320 46530
Bearish-below 45855
Invalid-above 45965
T- 45630 45404
BANKNIFTY has closed on a slight bearish note (just got passing marks :) with 0.33% cut today. In the weekend we discussed that it has created a bearish sentiment candle in daily TF on Friday. Today it was active throughout the day where all the up moves were sold into. Bearish sentiment likely to continue tomorrow below today's low. Also sentiment likely to be decline till we make a proper reversal structure in hourly TF. 46095 and 45855 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 46095 then we will long for the target of 46320 and 46530.
For selling we need a 15 min candle close below 45855. T- 45630 and 45404.
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.
Bullish-above 46095
Invalid- below 45985
T- 46320 46530
Bearish-below 45855
Invalid-above 45965
T- 45630 45404
BANKNIFTY has closed on a slight bearish note (just got passing marks :) with 0.33% cut today. In the weekend we discussed that it has created a bearish sentiment candle in daily TF on Friday. Today it was active throughout the day where all the up moves were sold into. Bearish sentiment likely to continue tomorrow below today's low. Also sentiment likely to be decline till we make a proper reversal structure in hourly TF. 46095 and 45855 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 46095 then we will long for the target of 46320 and 46530.
For selling we need a 15 min candle close below 45855. T- 45630 and 45404.
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.
