BANKNIFTY Intraday Trade Setup For 01 Aug 2023
Bullish-Above 45700
Invalid-Below 45590
T- 45901 46135
Bearish-Below 45470
Invalid-Above 45580
T-45240 44950
BANKNIFTY has closed with positive gain today of 0.4% today. Buy triggered as per trade setup above 45530 and gave 150+ points gain, although our expected target was not met and it closed. It has formed an inside candle in daily TF which is a sign of contraction. 45730 and 45230 is the broader range as per the inside candle. Above 45700 if sustained then it can test 45935 and above which 46135. It will be bearish below 45470.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45700 then we will long for the target of 45900-35 and 46135.
For selling we need a 15 min candle close below 45470. T- 45240 and 44950.
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 45700
Invalid-Below 45590
T- 45901 46135
Bearish-Below 45470
Invalid-Above 45580
T-45240 44950
BANKNIFTY has closed with positive gain today of 0.4% today. Buy triggered as per trade setup above 45530 and gave 150+ points gain, although our expected target was not met and it closed. It has formed an inside candle in daily TF which is a sign of contraction. 45730 and 45230 is the broader range as per the inside candle. Above 45700 if sustained then it can test 45935 and above which 46135. It will be bearish below 45470.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45700 then we will long for the target of 45900-35 and 46135.
For selling we need a 15 min candle close below 45470. T- 45240 and 44950.
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.
