BANKNIFTY Intraday Trade Setup For 12 Jun 2023
BANKNIFTY Intraday Trade Setup For 12 Jun 2023
Buy-Above 44070
Sl-43965
T- 44288 44510
Sell-Below 43930
Sl- 44035
T- 43690 43290
BANKNIFTY has closed on with neutral gains last week but the sentiment was slightly bearish. It has formed a shooting star candle in daily and weekly TF both. Last week we discussed that index is inside the rising wedge pattern in hourly TF. Last week we gave a breakout of the pattern. Now below 43930 it will be active.
Will trail till it makes a proper reversal structure in hourly TF. 43230 is important in the upside in case it reverses. High probability trade is in down side tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44288 and 44510.
For selling we need a 15 Min candle close below 43930. T- 43690 and 43490.
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 44070
Sl-43965
T- 44288 44510
Sell-Below 43930
Sl- 44035
T- 43690 43290
BANKNIFTY has closed on with neutral gains last week but the sentiment was slightly bearish. It has formed a shooting star candle in daily and weekly TF both. Last week we discussed that index is inside the rising wedge pattern in hourly TF. Last week we gave a breakout of the pattern. Now below 43930 it will be active.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44288 and 44510.
For selling we need a 15 Min candle close below 43930. T- 43690 and 43490.
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.
Trade active:
Rising wedge pattern activated as per analysis
43930-43400
43930-43400
