BANKNIFTY Intraday Trade Setup For 08 Aug 2023
Bullish-Above 45015
Invalid-Below 44905
T- 45290 45612
Bearish-Below 44770
Invalid-Above 44880
T- 44510 44279
BANKNIFTY has closed on absolute flat note. Last day it was discussed that index has created a a bit big range which was 45120 44590. It was said that it is no trading range till breakout happens. Result is in front of us, it was total sideways and noisy inside the range. Nothing triggered as per trade setup. Today it has consolidated in a tight range of 240 points. Will simply trade on this range breakout.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45015 then we will long for the target of 45290 and 45615.
For selling we need a 15 Min candle close below 44770. T- 44510 and 44279.
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.
Bullish-Above 45015
Invalid-Below 44905
T- 45290 45612
Bearish-Below 44770
Invalid-Above 44880
T- 44510 44279
BANKNIFTY has closed on absolute flat note. Last day it was discussed that index has created a a bit big range which was 45120 44590. It was said that it is no trading range till breakout happens. Result is in front of us, it was total sideways and noisy inside the range. Nothing triggered as per trade setup. Today it has consolidated in a tight range of 240 points. Will simply trade on this range breakout.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45015 then we will long for the target of 45290 and 45615.
For selling we need a 15 Min candle close below 44770. T- 44510 and 44279.
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.
