BANKNIFTY Intraday Trade Setup For 11 Aug 2022
Buy-Above 38405
Sl-38300
T-38525 38620
Sell-Below 38150
Sl-38250
T-38000 37835
BANKNIFTY has closed almost flat with a slight gain and formed a doji candle in daily TF. Next momentum will come Doji's high- 38405 and below its low 38150. A symmetrical triangle formation can be seen in 15 Min TF. 15 Min candle close above and below the trendline will trigger a breakout move either side. This will be best on a flat opening.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above today's high- 38405 then we will long for the target of 38525 and 38620.
For selling we need a 15 min candle close below 38150. Target will be 38000. Below 38000 post bounce we will head towards 37835. However index will be weak below 38190.
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 38405
Sl-38300
T-38525 38620
Sell-Below 38150
Sl-38250
T-38000 37835
BANKNIFTY has closed almost flat with a slight gain and formed a doji candle in daily TF. Next momentum will come Doji's high- 38405 and below its low 38150. A symmetrical triangle formation can be seen in 15 Min TF. 15 Min candle close above and below the trendline will trigger a breakout move either side. This will be best on a flat opening.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above today's high- 38405 then we will long for the target of 38525 and 38620.
For selling we need a 15 min candle close below 38150. Target will be 38000. Below 38000 post bounce we will head towards 37835. However index will be weak below 38190.
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.
