BANKNIFTY Intraday Trade Setup For 05 Jul 2023
Buy-Above 45660
Sl-45550
T- 45950 46250
Sell-Below 45220
Sl-45330
T- 44975 44730
BANKNIFTY has closed with positive gain of 0.32% today. Last week we expected a target of 1150-1200 points above our buy level- 44500. Target almost achieved today (44500-45655). Our TSL is still intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit. Till then ride the open sky momentum. Today buy triggered as per trade setup above 45355 and hit 1st target. It has formed a neutral doji in daily TF. Chances of an inside candle tomorrow. 45660 and 45220 are important levels for tomorrow.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45660 then we will long for the target of 45950 and 46250.
For selling we need a 15 Min candle close below 45220. T- 44975 and 44730.
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 45660
Sl-45550
T- 45950 46250
Sell-Below 45220
Sl-45330
T- 44975 44730
BANKNIFTY has closed with positive gain of 0.32% today. Last week we expected a target of 1150-1200 points above our buy level- 44500. Target almost achieved today (44500-45655). Our TSL is still intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit. Till then ride the open sky momentum. Today buy triggered as per trade setup above 45355 and hit 1st target. It has formed a neutral doji in daily TF. Chances of an inside candle tomorrow. 45660 and 45220 are important levels for tomorrow.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45660 then we will long for the target of 45950 and 46250.
For selling we need a 15 Min candle close below 45220. T- 44975 and 44730.
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.
