BANKNIFTY Intraday Trade Setup For 09 Aug 2023
Bullish-Above 45100
Invalid-Below 44990
T- 45355 45613
Bearish-Below 44880
Invalid-Above 44990
T-44585 44250
BANKNIFTY has closed on a slight bullish note with 0.28% gain today. It was yet another day of consolidation. Since last 3 sessions index has been trading without momentum. It has been contracting since last few days and this usually happens before any start of a big move. Tomorrow whichever side it trade gets triggered follow 10 o'clock range breakout along with that. Important levels are 45100 and 44880 for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45100 then we will long for the target of 45355 and 45612.
For selling we need a 15 Min candle close below 44880. T- 44585 and 44250.
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 45100
Invalid-Below 44990
T- 45355 45613
Bearish-Below 44880
Invalid-Above 44990
T-44585 44250
BANKNIFTY has closed on a slight bullish note with 0.28% gain today. It was yet another day of consolidation. Since last 3 sessions index has been trading without momentum. It has been contracting since last few days and this usually happens before any start of a big move. Tomorrow whichever side it trade gets triggered follow 10 o'clock range breakout along with that. Important levels are 45100 and 44880 for tomorrow's session.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45100 then we will long for the target of 45355 and 45612.
For selling we need a 15 Min candle close below 44880. T- 44585 and 44250.
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.
