BANKNIFTY Intraday Trade Setup For 09 May 2023
Buy-Above 43420
Sl-43315
T- 43638 43858
Sell-Below 43195
Sl-43300
T- 42989 42780
BANKNIFTY has closed on a bullish sentiment with almost 1.5% gain today. Last day index closed below PDL and today it failed to hit our TSL in long as that candle's low was safe and eventually it rallied. Last day a pullback was scenario was discussed that there is a possibility that it can test 43335 in the 1st hour so has happened. Also price fell almost 150 points from 0.618 plotted. Tomorrow's best trade will be done on flat opening.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43420 then we will long for the target of 43638 and 43858.
For selling we need a 15 Min candle close below 43195. T- 42989 and 42780.
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 43420
Sl-43315
T- 43638 43858
Sell-Below 43195
Sl-43300
T- 42989 42780
BANKNIFTY has closed on a bullish sentiment with almost 1.5% gain today. Last day index closed below PDL and today it failed to hit our TSL in long as that candle's low was safe and eventually it rallied. Last day a pullback was scenario was discussed that there is a possibility that it can test 43335 in the 1st hour so has happened. Also price fell almost 150 points from 0.618 plotted. Tomorrow's best trade will be done on flat opening.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43420 then we will long for the target of 43638 and 43858.
For selling we need a 15 Min candle close below 43195. T- 42989 and 42780.
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.
