BANKNIFTY Intraday Trade Setup For 11 Jul 2022
Buy-Above 35170
Sl-35070
T-35280 35415 35615
Below-34980
Sl-35100
T-34850 34710 34570
BANKNIFTY has given a good move above our swing buy level- 34150. We expected a upside move above 34150 till 35650. It got triggered on 6 Jul last week. Till now we have gained more than 3% (1:1). The daily candle(Hanging Man) suggests that a halt in the current move may take place if it does not secure 35000. And if sustains above Friday's high then we will hit our target 35650.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 35170 we will long for the target of 35280, 34415 and 35615.
In case a 15 Min candle closes below 35000. We will short below that candle for the target of 34850, 34710 and 34570.
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.
Intraday Support- 34550
Intraday Resistance- 35650
Buy-Above 35170
Sl-35070
T-35280 35415 35615
Below-34980
Sl-35100
T-34850 34710 34570
BANKNIFTY has given a good move above our swing buy level- 34150. We expected a upside move above 34150 till 35650. It got triggered on 6 Jul last week. Till now we have gained more than 3% (1:1). The daily candle(Hanging Man) suggests that a halt in the current move may take place if it does not secure 35000. And if sustains above Friday's high then we will hit our target 35650.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 35170 we will long for the target of 35280, 34415 and 35615.
In case a 15 Min candle closes below 35000. We will short below that candle for the target of 34850, 34710 and 34570.
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.
Intraday Support- 34550
Intraday Resistance- 35650
