BANKNIFTY Intraday Trade Setup For 06 Jul 2023
Buy-Above 45275
Sl-45165
T- 45465 45655
Sell-Below 45070
Sl-45180
T- 44855 44667
BANKNIFTY has closed with a slight cut of 0.33% cut today. Sell triggered as per trade setup below 45220 and gave a small gain of 140 points. Overall it was complete sideways session with almost random moves. Last day it was said that there a possibility of an inside candle so has happened. Divergence between NIFTY and BANKNIFTY has started where the they are strong and slight weak respectively. If buy triggers post 1:30 then there is a strong possibility of short-covering move. 45465 and 45070 are important levels for next session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45275 then we will long for the target of 45465 and 45655.
For selling we need a 15 Min candle close below 45070. T- 44855 and 44667.
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 45275
Sl-45165
T- 45465 45655
Sell-Below 45070
Sl-45180
T- 44855 44667
BANKNIFTY has closed with a slight cut of 0.33% cut today. Sell triggered as per trade setup below 45220 and gave a small gain of 140 points. Overall it was complete sideways session with almost random moves. Last day it was said that there a possibility of an inside candle so has happened. Divergence between NIFTY and BANKNIFTY has started where the they are strong and slight weak respectively. If buy triggers post 1:30 then there is a strong possibility of short-covering move. 45465 and 45070 are important levels for next session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45275 then we will long for the target of 45465 and 45655.
For selling we need a 15 Min candle close below 45070. T- 44855 and 44667.
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.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.