BANKNIFTY Intraday Trade Setup For 7 Oct 2022
BANKNIFTY Intraday Trade Setup For 7 Oct 2022
Buy-Above 39405
Sl-39290
T-39600 39815 40040
Sell-Below 39230
Sl-39345
T-39050 38877 39600
BANKNIFTY has closed with slight gain which is contributed only by gap up. It opened with a huge gap up and traded inside a range almost the whole day. 10 o'clock range broke upside and gave 75 points. The daily candle is a shooting star which indicates a selling pressure. Below today's low a down side move will come and upside move will be paused below PDL.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 39230 then we will short for the target of 39050, 38877 and extended target will be 38570.
For buying one should wait till a 15 Min candle closes above 39610. Aggressive traders can long above 39405 for 120-150 points target.
Be strict with RR targets with proper trailing.
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 39405
Sl-39290
T-39600 39815 40040
Sell-Below 39230
Sl-39345
T-39050 38877 39600
BANKNIFTY has closed with slight gain which is contributed only by gap up. It opened with a huge gap up and traded inside a range almost the whole day. 10 o'clock range broke upside and gave 75 points. The daily candle is a shooting star which indicates a selling pressure. Below today's low a down side move will come and upside move will be paused below PDL.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 39230 then we will short for the target of 39050, 38877 and extended target will be 38570.
For buying one should wait till a 15 Min candle closes above 39610. Aggressive traders can long above 39405 for 120-150 points target.
Be strict with RR targets with proper trailing.
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.
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