BANKNIFTY Intraday Trade Setup For 5 Jul 2022
Buy-Above 33980
Sl-33880
T-34125 34325
Sell-Below 33660
Sl-33760
T-33520 33320
BANKNIFTY has closed in a positive sentiment today. Last day we planned to buy above 33670. In the morning it could not hold and hit our 100 points sl. Later it got triggered and gave a move from 33670-33980+. Tomorrow's trade will be best on flat opening.
Coming to tomorrow's trade setup, if index opens flat and a 1/5 min candle closes above 33980. we will long for the target of 34125 and 34325. Opening trade is a bit risky as how it will respond to 34000 is a doubt. Safe traders should enter after a pullback(After 30 Min). Plotted an arrow for better understanding.
For selling we need a 15 Min candle close below 33660. Post breakdown it will head towards 33520. Below 33500 index will head towards 33320.
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.
Avoid the breakout trade if it opens with a big gap up.
Buy-Above 33980
Sl-33880
T-34125 34325
Sell-Below 33660
Sl-33760
T-33520 33320
BANKNIFTY has closed in a positive sentiment today. Last day we planned to buy above 33670. In the morning it could not hold and hit our 100 points sl. Later it got triggered and gave a move from 33670-33980+. Tomorrow's trade will be best on flat opening.
Coming to tomorrow's trade setup, if index opens flat and a 1/5 min candle closes above 33980. we will long for the target of 34125 and 34325. Opening trade is a bit risky as how it will respond to 34000 is a doubt. Safe traders should enter after a pullback(After 30 Min). Plotted an arrow for better understanding.
For selling we need a 15 Min candle close below 33660. Post breakdown it will head towards 33520. Below 33500 index will head towards 33320.
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.
Avoid the breakout trade if it opens with a big gap up.
