BANKNIFTY Intraday Trade Setup For 9 Dec 2022
Buy-Above 43645
Sl-43540
T-73755 43872 44050
Sell-Below 43520
Sl-43630
T-43330 43140
BANKNIFTY has given a very strong closing today. It has closed with 1.15% gain. Now important support is 42900 in hourly TF. Below this we can see a profit booking. Last day it was clearly told that we have been inside a tight range. It was mentioned that we have formed a triangle pattern, on breakout we can see a good momentum. So has happened today. Buy triggered @ 43181 on 15 Min candle close and it gave no-stop rally till 43640.
Coming to Friday's trade setup, if index opens flat an a 15 Min candle closes above 43645 then we will long for the target of 43755, 43872 an 44050.
For selling we need a 15 Min candle close below 43520. Target will be 43330 an 43140. BTW this a bit aggressive as last swing low is 43330.
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 43645
Sl-43540
T-73755 43872 44050
Sell-Below 43520
Sl-43630
T-43330 43140
BANKNIFTY has given a very strong closing today. It has closed with 1.15% gain. Now important support is 42900 in hourly TF. Below this we can see a profit booking. Last day it was clearly told that we have been inside a tight range. It was mentioned that we have formed a triangle pattern, on breakout we can see a good momentum. So has happened today. Buy triggered @ 43181 on 15 Min candle close and it gave no-stop rally till 43640.
Coming to Friday's trade setup, if index opens flat an a 15 Min candle closes above 43645 then we will long for the target of 43755, 43872 an 44050.
For selling we need a 15 Min candle close below 43520. Target will be 43330 an 43140. BTW this a bit aggressive as last swing low is 43330.
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.
