BANKNIFTY Intraday Trade Setup For 1 Dec 2022
Buy-Above 43340
Sl-43230
T-43522 43710 43950
Sell-Below 43000
Sl-43110
T- 42750 42550 43330
BANKNIFTY has closed on a positive note with 0.41% gain. It is still inside the 600 points range (43340-42740) which is valid since last last 5 trading sessions. Breakout of this range will lead to a initial move of 600 points any side. Any ways tomorrow is expiry so have to be very careful with trailing sl in both way trades. Today it opened flat and sell triggered and gave 1:1 profit. 10 o'clock range gave decent as it broke before sell triggered.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950-44k.
For selling we need a 15 min candle close below 43000. Target will be 42750, 42550 and 42330.
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 43340
Sl-43230
T-43522 43710 43950
Sell-Below 43000
Sl-43110
T- 42750 42550 43330
BANKNIFTY has closed on a positive note with 0.41% gain. It is still inside the 600 points range (43340-42740) which is valid since last last 5 trading sessions. Breakout of this range will lead to a initial move of 600 points any side. Any ways tomorrow is expiry so have to be very careful with trailing sl in both way trades. Today it opened flat and sell triggered and gave 1:1 profit. 10 o'clock range gave decent as it broke before sell triggered.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950-44k.
For selling we need a 15 min candle close below 43000. Target will be 42750, 42550 and 42330.
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.
