BANKNIFTY Intraday Trade Setup For 11 Sep 2023
Bullish-Above 45390
Invalid-Below 45280
T- 45645 45900
Bearish-Below 45030
Invalid-Above 45140
T- 44770 44497
BANKNIFTY has closed on a bullish note last week and day with 1.62% and 0.62% gain respectively. It gave a breakout of the daily range (45k and 44k) in the upper side. We can expect continuation above 45400 now and next stop looks near 45600-50 zone which is a gap area. Weekly support is too far now which is 43600, gateway for downside. 45390 and 45030 are two important levels for next session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45390 then we will long for the target of 45645 and 45900.
For selling we need a 15 Min candle close below 45030. T- 44770 and 44497.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 45390
Invalid-Below 45280
T- 45645 45900
Bearish-Below 45030
Invalid-Above 45140
T- 44770 44497
BANKNIFTY has closed on a bullish note last week and day with 1.62% and 0.62% gain respectively. It gave a breakout of the daily range (45k and 44k) in the upper side. We can expect continuation above 45400 now and next stop looks near 45600-50 zone which is a gap area. Weekly support is too far now which is 43600, gateway for downside. 45390 and 45030 are two important levels for next session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45390 then we will long for the target of 45645 and 45900.
For selling we need a 15 Min candle close below 45030. T- 44770 and 44497.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
