BANKNIFTY Intraday Trade Setup For 6 May 2022
Buy-None
Sell-Below 35100
Sl-35250
T- 35000 34800 34600
BANKNIFTY has made an inside candle in daily TF. We planned to sell from 35750 on last day. It gave very good quick profit of 200 points. Then 10 o'clock range shifted above 35770 and gave another 150 points move in upside. Two consecutive shooting star formed at top and index crashed from 35900-35140.
Friday's trade setup :-
We are gonna sell below 35120 as soon as it crosses below. Ideal trade will be on flat opening. Targets will be 34800 and 34600.Sl will be small here. This will be a momentum trade.
If it opens gap down below 35000 and the 1st 15 Min candle is a bullish reversal candle then above its high we will buy. Target will be 35100-35150
Then we need a 5 Min negative candle near 35100-35150. We will plan for a sell from here and target will be 34800 and 34600.
In case it opens gap up, we will ignore trading tomorrow.
The 10 o'clock range breakout will also be important to see.
Inside candle-
Buy-None
Sell-Below 35100
Sl-35250
T- 35000 34800 34600
BANKNIFTY has made an inside candle in daily TF. We planned to sell from 35750 on last day. It gave very good quick profit of 200 points. Then 10 o'clock range shifted above 35770 and gave another 150 points move in upside. Two consecutive shooting star formed at top and index crashed from 35900-35140.
Friday's trade setup :-
We are gonna sell below 35120 as soon as it crosses below. Ideal trade will be on flat opening. Targets will be 34800 and 34600.Sl will be small here. This will be a momentum trade.
If it opens gap down below 35000 and the 1st 15 Min candle is a bullish reversal candle then above its high we will buy. Target will be 35100-35150
Then we need a 5 Min negative candle near 35100-35150. We will plan for a sell from here and target will be 34800 and 34600.
In case it opens gap up, we will ignore trading tomorrow.
The 10 o'clock range breakout will also be important to see.
Inside candle-
