BANKNIFTY Intraday Trade Setup For 3 May 2023
BANKNIFTY Intraday Trade Setup For 3 May 2023
Buy-Above 43490
Sl-43385
T- 43715 43940
Sell-Below 43260
Sl-43365
T- 43065 42810
BANKNIFTY has closed with with a slight bullish sentiment with 0.27% gain today. Whole gain is contributed via gap up and in intraday it was just sideways within less than 200 points range. It has formed a spinning top in daily charts which is sign of pause. If it sustains below below today's low then we will can give pullback of the up move we enjoyed last week. Above today's high bullish sentiment will be intact. Initial 200 points move can be expected above and below today's high and low.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 43490 then we will long for the target of 43715 and 43940.
For selling we need a 15 Min candle close below 43260. T- 43065 and 42920, 42800.
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 43490
Sl-43385
T- 43715 43940
Sell-Below 43260
Sl-43365
T- 43065 42810
BANKNIFTY has closed with with a slight bullish sentiment with 0.27% gain today. Whole gain is contributed via gap up and in intraday it was just sideways within less than 200 points range. It has formed a spinning top in daily charts which is sign of pause. If it sustains below below today's low then we will can give pullback of the up move we enjoyed last week. Above today's high bullish sentiment will be intact. Initial 200 points move can be expected above and below today's high and low.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 43490 then we will long for the target of 43715 and 43940.
For selling we need a 15 Min candle close below 43260. T- 43065 and 42920, 42800.
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.
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.