BANKNIFTY Intraday Trade Setup For 3 Aug 2022
Buy-Above 38180
Sl-38060
T-38350 38555
Sell-Below 37800
Sl-37900
T-37630 37400
BANKNIFTY has closed with a slight positive gain today. Sell level was triggered but immediately a bullish engulfing was formed after the breakdown, it was evident to suggest that bulls are ready to buy the dip and eventually our 100 points sl was hit in sell side. That is why intraday data is very important.
Overall it was a volatile session where swings were too volatile.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 38180, we will long for the target of 38350 and 38550.
For selling we need a 15 Min candle close below 37800. Post breakdown we will head towards 37630 and 37400.
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 38180
Sl-38060
T-38350 38555
Sell-Below 37800
Sl-37900
T-37630 37400
BANKNIFTY has closed with a slight positive gain today. Sell level was triggered but immediately a bullish engulfing was formed after the breakdown, it was evident to suggest that bulls are ready to buy the dip and eventually our 100 points sl was hit in sell side. That is why intraday data is very important.
Overall it was a volatile session where swings were too volatile.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 38180, we will long for the target of 38350 and 38550.
For selling we need a 15 Min candle close below 37800. Post breakdown we will head towards 37630 and 37400.
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.
