BANKNIFTY Intraday Trade Setup For 29 Jul 2022
Buy-Above 37415
Sl-37300
T-37565 37725 37830
Sell-Below 37245
Sl- 37350
T-37110 37010 36900
BANKNIFTY has closed on a positive sentiment today with 1.6% gain. Last day we planned to buy above 36855 and sell below 336575. None triggered due the expected big gap up. We also planned for a directional move above and below broader range 37050 and 36200. Upper range was broken and gave more than 350 points move. 10 o'clock range broke upside above 37250 and gave 150+ points gain.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 37415, we will long for the target of 37570, 37705 and 37830+.
On a 5 min candle close below 37250, we will short for the target of 37110, 37010. Below 37000 we will head towards 36780.
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 37415
Sl-37300
T-37565 37725 37830
Sell-Below 37245
Sl- 37350
T-37110 37010 36900
BANKNIFTY has closed on a positive sentiment today with 1.6% gain. Last day we planned to buy above 36855 and sell below 336575. None triggered due the expected big gap up. We also planned for a directional move above and below broader range 37050 and 36200. Upper range was broken and gave more than 350 points move. 10 o'clock range broke upside above 37250 and gave 150+ points gain.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 37415, we will long for the target of 37570, 37705 and 37830+.
On a 5 min candle close below 37250, we will short for the target of 37110, 37010. Below 37000 we will head towards 36780.
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.
