BANKNIFTY Intraday Trade Setup For 2 May 2022
Sell_1- Below 35970
Sell_2- From 36550
BANKNIFTY has formed a bearish engulfing candle in daily TF. 200 EMA is flat in daily TF, sideways trend. Important level for a range shift is 35500 in the lower side and 37000 in upper side.
Coming to Monday's trade setup, we will...
Happy New Year All,
We saw a climb from 34230 levels making a nice structural set up for a potential move.
Our entry point on the North side is above 35700 with T1 at 36000 and SL 35480 making it a good RR.
Down south, entry is only below 33900 as we have seen support at 34000 previously, The target there is a good 600 points
We have completed 5 Wave move Up since Covid Fall and now in making of 5-3-5 Corrective pattern ((A)) ((B)) ((C)).
Its too Early to confirm Connector ((B)) is completed however assuming it is done, we can now expect making of wave ((C)) Black is in process and we can have entry planned @ 31080 Level with target to en-cash Next Up move of Wave III red.
Good evening all,
We were able to achieve our 1st target within a mater minutes on Monday and then snuck into the range we had marked between SL and Target.
The range this time is huge, 2000 points and may see the week within that making us wait and watch. On either side 37200 and 35300m the RER is good and make us earn between 300-500...