BANKNIFTY Intraday Trade Setup For 30 Nov 2022
Buy-Above 43340
Sl-43230
T-43522 43710 43950
Sell-Below 42995
Sl-43105
T-42740 42550 42330
BANKNIFTY has closed on a flat note with just 33 points gain. Exact same thing happened yesterday where it closed flat with just 36 points gain. A zone is being created, can be a distribution, confirmation is on range breakdown. A range (43340 -42740) of 600 points has been created. Breakout will lead to a initial move of 600 points any side. A shooting star has been formed in daily TF. Index can slide below its low.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950.
For selling we need a 15 Min candle close below 42995. A pullback is needed before breakdown. Target will be 42740, 42550 and 42330.
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 43340
Sl-43230
T-43522 43710 43950
Sell-Below 42995
Sl-43105
T-42740 42550 42330
BANKNIFTY has closed on a flat note with just 33 points gain. Exact same thing happened yesterday where it closed flat with just 36 points gain. A zone is being created, can be a distribution, confirmation is on range breakdown. A range (43340 -42740) of 600 points has been created. Breakout will lead to a initial move of 600 points any side. A shooting star has been formed in daily TF. Index can slide below its low.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950.
For selling we need a 15 Min candle close below 42995. A pullback is needed before breakdown. Target will be 42740, 42550 and 42330.
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.
