BANKNIFTY Intraday Trade Setup For 12 Sep 2023
Bullish-Above 45640
Invalid-Below 45530
T- 45900 46150
Bearish- Below 45360
Invalid-Above 45470
T- 45050 44770
BANKNIFTY has closed on a bullish note with almost 1% gain today. Buy triggered as per trade setup above 45390 and 1st target was achieved (45390-45560). However the momentum was a bit lethargic. Daily range broke upside last week above 45k is also approaching towards its ATH most probably. Only thing is that it is lacking momentum however that's a trait of bull. Tomorrow also we can expect bullish momentum above today's high, idle trade will be post a pullback. Buying from support should also be approached in intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45640 then we will long for the target of 45900 and 46150.
For selling we need a 15 Min candle close below 45360. T- 45050 and 44770.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 45640
Invalid-Below 45530
T- 45900 46150
Bearish- Below 45360
Invalid-Above 45470
T- 45050 44770
BANKNIFTY has closed on a bullish note with almost 1% gain today. Buy triggered as per trade setup above 45390 and 1st target was achieved (45390-45560). However the momentum was a bit lethargic. Daily range broke upside last week above 45k is also approaching towards its ATH most probably. Only thing is that it is lacking momentum however that's a trait of bull. Tomorrow also we can expect bullish momentum above today's high, idle trade will be post a pullback. Buying from support should also be approached in intraday.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45640 then we will long for the target of 45900 and 46150.
For selling we need a 15 Min candle close below 45360. T- 45050 and 44770.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
