BANKNIFTY Intraday Trade Setup For 06 Jun 2023
Buy-Above 44270
Sl-44165
T- 44515 44755
Sell-Below 44070
Sl- 44175
T- 43840 43680
BANKNIFTY has closed on a bearish sentiment with some positive gain today. It has closed with 0.37% gain and formed shooting star candle in daily chart. It opened with a decent gap up and buy triggered above 44090. Trade gave more than 1:1 gain. It was a rangebound day overall as it traded between the 10 o'clock range range whole day. A sharp buying momentum can kick in above 42270. Hourly range is 44500 and 43700, between this we will have days like today.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44270 then we will long for the target of 44515 and above that 44755.
For selling we need a 15 Min candle close below 44070. T- 43840 and 43680.
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 44270
Sl-44165
T- 44515 44755
Sell-Below 44070
Sl- 44175
T- 43840 43680
BANKNIFTY has closed on a bearish sentiment with some positive gain today. It has closed with 0.37% gain and formed shooting star candle in daily chart. It opened with a decent gap up and buy triggered above 44090. Trade gave more than 1:1 gain. It was a rangebound day overall as it traded between the 10 o'clock range range whole day. A sharp buying momentum can kick in above 42270. Hourly range is 44500 and 43700, between this we will have days like today.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44270 then we will long for the target of 44515 and above that 44755.
For selling we need a 15 Min candle close below 44070. T- 43840 and 43680.
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.
