BANKNIFTY Intraday Trade Setup For 5 Jan 2023
Buy-Above 43190
Sl-43080
T- 43435 43651
Sell-Below 42855
Sl-42965
T-42555 42300
BANKNIFTY has closed on a bearish sentiment with 1.07% cut. It has closed near day low which is a bearish sentiment still on. This sentiment will continue below today's low. Today it opened almost flat and buy triggered as per trade setup which eventually hit 110 points sl. An evening star formed just after breakout. Then sell triggered below 43345 and hit all targets. This trade gave more than 450 points gain. So small loss covered and decent profit booked as per trade setup. This is the power of RR.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle close above 43190 then we will long for the target of 43435 and 43651.
For selling we need a 15 min candle close below 42855. T- 42555 and 42300. Extended target will be 41980.
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.
Buy-Above 43190
Sl-43080
T- 43435 43651
Sell-Below 42855
Sl-42965
T-42555 42300
BANKNIFTY has closed on a bearish sentiment with 1.07% cut. It has closed near day low which is a bearish sentiment still on. This sentiment will continue below today's low. Today it opened almost flat and buy triggered as per trade setup which eventually hit 110 points sl. An evening star formed just after breakout. Then sell triggered below 43345 and hit all targets. This trade gave more than 450 points gain. So small loss covered and decent profit booked as per trade setup. This is the power of RR.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle close above 43190 then we will long for the target of 43435 and 43651.
For selling we need a 15 min candle close below 42855. T- 42555 and 42300. Extended target will be 41980.
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.
