BANKNIFTY Intraday Trade Setup For 3 Oct 2022
BANKNIFTY Intraday Trade Setup For 3 Oct 2022
Buy-Above 38815
Sl-38700
T-39000 39200
Sell-Below 38530
Sl-38650
T-38200 37889
BANKNIFTY has closed on a positive note and formed a bullish engulfing candle on Friday. On Friday our TSL for short trade was triggered as previous high was tested in 15 Min TF. This trade gave us a fantastic straight move below our shot level (40280-37850). Next selling pressure will resume below Friday's low- 37380. We need more price action to make a fresh directional move upside.
Coming to Monday's trade setup, if index opens flat and a 15 min candle close above 38811, then we will long for the target of 39000 and 39200+.
For selling we need a 15 Min candle close below 38530. Target will be 38200 and 37889.
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 38815
Sl-38700
T-39000 39200
Sell-Below 38530
Sl-38650
T-38200 37889
BANKNIFTY has closed on a positive note and formed a bullish engulfing candle on Friday. On Friday our TSL for short trade was triggered as previous high was tested in 15 Min TF. This trade gave us a fantastic straight move below our shot level (40280-37850). Next selling pressure will resume below Friday's low- 37380. We need more price action to make a fresh directional move upside.
Coming to Monday's trade setup, if index opens flat and a 15 min candle close above 38811, then we will long for the target of 39000 and 39200+.
For selling we need a 15 Min candle close below 38530. Target will be 38200 and 37889.
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.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.