BANKNIFTY Intraday Trade Setup For 08 Jun 2023
Buy-Above 44350
Sl-44245
T- 44523 44675
Sell-Below 44140
Sl-44245
T- 44000 43840
BANKNIFTY has closed with slight gain of 0.25% today. It opened opened with a decent gap up today. 10 o'clock rage broke downside below
44231 and gave 85+ points gain with less than 50 points sl. On a flat opening if it sustains above 44300 then it can show strength tomorrow, confirmation above 44350. Below 44140 there can be good selling momentum and we can see good profit booking. Tomorrow is RBI Policy at 10 AM so safe traders should trade after market settles in the 2nd session. Tomorrow is expiry and credit policy both so market can be volatile and random.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44350 then we will long for the target of 44523 and 44675.
For selling we need a 15 min candle close below 44140. T- 44000 and 43840.
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 44350
Sl-44245
T- 44523 44675
Sell-Below 44140
Sl-44245
T- 44000 43840
BANKNIFTY has closed with slight gain of 0.25% today. It opened opened with a decent gap up today. 10 o'clock rage broke downside below
44231 and gave 85+ points gain with less than 50 points sl. On a flat opening if it sustains above 44300 then it can show strength tomorrow, confirmation above 44350. Below 44140 there can be good selling momentum and we can see good profit booking. Tomorrow is RBI Policy at 10 AM so safe traders should trade after market settles in the 2nd session. Tomorrow is expiry and credit policy both so market can be volatile and random.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44350 then we will long for the target of 44523 and 44675.
For selling we need a 15 min candle close below 44140. T- 44000 and 43840.
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.
