BANKNIFTY Intraday Trade Setup For 1 Sep 2023
Bullish-Above 44110
Invalid-Below 44000
T- 44357 44583
Bearish-Below 43890
Invalid-Above 44000
T- 43600 43239
BANKNIFTY has closed on a bearish note with 0.55% cut today. Yesterday I indicated a pullback scenario to short again from higher levels. This was simple market structure thing as yesterday's impulse needed a pullback. Today without a pullback it dipped and sell triggered which hit sl later sell triggered below 44140 again and hit our 1st target (43900) very smoothly. Tomorrow 44110 and 43890 are important levels for intraday.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 44110 then we will long for the target of 44357 and 44583.
For selling we need a 15 Min candle close below 43890. T- 43600 and 43239.
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.
Bullish-Above 44110
Invalid-Below 44000
T- 44357 44583
Bearish-Below 43890
Invalid-Above 44000
T- 43600 43239
BANKNIFTY has closed on a bearish note with 0.55% cut today. Yesterday I indicated a pullback scenario to short again from higher levels. This was simple market structure thing as yesterday's impulse needed a pullback. Today without a pullback it dipped and sell triggered which hit sl later sell triggered below 44140 again and hit our 1st target (43900) very smoothly. Tomorrow 44110 and 43890 are important levels for intraday.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 44110 then we will long for the target of 44357 and 44583.
For selling we need a 15 Min candle close below 43890. T- 43600 and 43239.
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.
