BANKNIFTY Intraday Trade Setup For 02 Nov 2023
Bullish-Above 42820
Invalid-Below 42710
T- 43135 43410
Bearish-Below 42580
Invalid-Above 42690
T- 42267 42050
BANKNIFTY has closed on a slight bearish note with 0.34% cut once again. It opened with a slight cut and sell triggered below 42790. It could not hit our sell target and made a low of 42590 and closed at 42700. It has formed a range of 42820 and 42580. Breakout of this range will lead a direction move as it has formed a neutral candle in daily TF. 43135 and 42267 are important resistance and support for tomorrow's session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42820 then we will long for the target of 43135 and 43410.
For selling we need a 15 Min candle close below 42580. T- 42267 and 42050.
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 42820
Invalid-Below 42710
T- 43135 43410
Bearish-Below 42580
Invalid-Above 42690
T- 42267 42050
BANKNIFTY has closed on a slight bearish note with 0.34% cut once again. It opened with a slight cut and sell triggered below 42790. It could not hit our sell target and made a low of 42590 and closed at 42700. It has formed a range of 42820 and 42580. Breakout of this range will lead a direction move as it has formed a neutral candle in daily TF. 43135 and 42267 are important resistance and support for tomorrow's session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42820 then we will long for the target of 43135 and 43410.
For selling we need a 15 Min candle close below 42580. T- 42267 and 42050.
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.
