BANKNIFTY Intraday Trade Setup For 06 Sep 2023
Bullish-Above 44670
Invalid-Below 44560
T- 44950 44250-300
Bearish-Below 44400
Invalid-Above 44510
T- 44100 43800
BANKNIFTY has closed almost on a flat note day. Nothing triggered as per trade setup today. It just traded between yesterday's buy/resistance and sell sell/support levels. Two consecutive Pin bar candles in daily charts, Above and below its higher and lower range there will be a good directional move. Daily range is intact which is 44950/45k and 44k. Tomorrow above 44670 it can give a good momentum, 44950 will the 1st stop. Above 44k if sustained there can be a short covering. 44400 is the downside gateway.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and 44275-300.
For selling we need a 15 Min candle close below 44400. T- 44100 and 43800.
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 44670
Invalid-Below 44560
T- 44950 44250-300
Bearish-Below 44400
Invalid-Above 44510
T- 44100 43800
BANKNIFTY has closed almost on a flat note day. Nothing triggered as per trade setup today. It just traded between yesterday's buy/resistance and sell sell/support levels. Two consecutive Pin bar candles in daily charts, Above and below its higher and lower range there will be a good directional move. Daily range is intact which is 44950/45k and 44k. Tomorrow above 44670 it can give a good momentum, 44950 will the 1st stop. Above 44k if sustained there can be a short covering. 44400 is the downside gateway.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and 44275-300.
For selling we need a 15 Min candle close below 44400. T- 44100 and 43800.
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.
