BANKNIFTY Intraday Trade Setup For 06 Oct 2023 | Daily Analysis
BANKNIFTY Intraday Trade Setup For 06 Oct 2023
Bullish-Above 44400
Invalid-Below 44290
T- 44625 44815
Bearish-Below 44100
Invalid-Above 44210
T- 43850 43650
BANKNIFTY has closed with 0.57% gain today contributed by the gap up. It opened with a big gap up and 10 o'clock range was to be used, range broke downside below 44145 which hit around 90 points sl. There can be good short covering move today's high 44400. below 44100 it will bearish in intraday tomorrow. 43800 zone is a major intraday support. 44400 and 44100 is a no trading range it will be complete sideways between this 300 points range.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44400 then we will long for the target of 44625 and 44815.
For selling we need a 15 min candle close below 44100. T- 43850 and 43650.
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 44400
Invalid-Below 44290
T- 44625 44815
Bearish-Below 44100
Invalid-Above 44210
T- 43850 43650
BANKNIFTY has closed with 0.57% gain today contributed by the gap up. It opened with a big gap up and 10 o'clock range was to be used, range broke downside below 44145 which hit around 90 points sl. There can be good short covering move today's high 44400. below 44100 it will bearish in intraday tomorrow. 43800 zone is a major intraday support. 44400 and 44100 is a no trading range it will be complete sideways between this 300 points range.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44400 then we will long for the target of 44625 and 44815.
For selling we need a 15 min candle close below 44100. T- 43850 and 43650.
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.
