BANKNIFTY Intraday Trade Setup For 2 Dec 2022
Buy-Above 43365
Sl-43250
T-43597 43770
Sell-Below 43100
Sl-43210
T-42920 42740
BANKNIFTY has closed on a flat note with just 29 points gain. The 600 points range which was valid since last 5 trading sessions was broken in the higher side via gap gap. As it directly opened above the range high , it slipped from opening and has closed at the range high. This breakout will be confirmed above today's high. Also it is inside the channel pattern in hourly TF. According to trade setup, it directly opened at 1st target in buy side. Later 10 o'clock range broke downside below 43390 and gave more than 250 points gain.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 43100 then we will long for the target of 42920 and 42740.
For buying we need a 15 Min candle close above 43365. Target will be 43597 and 43770.
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 43365
Sl-43250
T-43597 43770
Sell-Below 43100
Sl-43210
T-42920 42740
BANKNIFTY has closed on a flat note with just 29 points gain. The 600 points range which was valid since last 5 trading sessions was broken in the higher side via gap gap. As it directly opened above the range high , it slipped from opening and has closed at the range high. This breakout will be confirmed above today's high. Also it is inside the channel pattern in hourly TF. According to trade setup, it directly opened at 1st target in buy side. Later 10 o'clock range broke downside below 43390 and gave more than 250 points gain.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 43100 then we will long for the target of 42920 and 42740.
For buying we need a 15 Min candle close above 43365. Target will be 43597 and 43770.
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.
