BANKNIFTY Intraday Trade Setup For 06 Jan 2023
Buy-Above 42660
Sl-42550
T- 42915 43190
Sell-Below 42295
Sl-42405
T-41980 41569
BANKNIFTY has closed on a bearish sentiment with 0.81% cut. We already discussed yesterday that bearish stance will be on below PDL, so has happened. Today it opened with a slight gap up and then sell triggered below 42855 on a 15 Min candle close. It hit both targets; dot level targets. This trade gave more than 500 points gain (42855- 42299). Currently BNF is at 50 EMA in daily TF. Below today's low it will be broken and bearish sentiment will continue.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 42295 we will short for the target of 41980 and 41569.
For selling we need a 15 Min candle close above 42660. A pullback is needed before breakout. T- 42915 and 43190.
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 42660
Sl-42550
T- 42915 43190
Sell-Below 42295
Sl-42405
T-41980 41569
BANKNIFTY has closed on a bearish sentiment with 0.81% cut. We already discussed yesterday that bearish stance will be on below PDL, so has happened. Today it opened with a slight gap up and then sell triggered below 42855 on a 15 Min candle close. It hit both targets; dot level targets. This trade gave more than 500 points gain (42855- 42299). Currently BNF is at 50 EMA in daily TF. Below today's low it will be broken and bearish sentiment will continue.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 42295 we will short for the target of 41980 and 41569.
For selling we need a 15 Min candle close above 42660. A pullback is needed before breakout. T- 42915 and 43190.
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.
