BANKNIFTY Intraday Trade Setup For 08 Sep 2023
Bullish-Above 44920
Invalid-Below 44810
T- 45130 45365
Bearish-Below 44670
Invalid-Above 44780
T- 44440 44200
BANKNIFTY has closed on a bullish note with 1.06% gain today. Tomorrow's daily closing is very important above 44950/44000 for a range shift for 1000 points rally in the coming days. Today buy triggered as per trade setup above 44670 and hit 1st target very smoothly (44670-44915). Bullish move likely to continue above today's high on flat opening. Intraday sentiment will change to bearish below 44670. Be very strict in trailing tomorrow for both side trades.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44920 then we will long for the target of 45130 and 45365.
For selling we need a 15 Min candle close below 44670. T- 44440 and 44200.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 44920
Invalid-Below 44810
T- 45130 45365
Bearish-Below 44670
Invalid-Above 44780
T- 44440 44200
BANKNIFTY has closed on a bullish note with 1.06% gain today. Tomorrow's daily closing is very important above 44950/44000 for a range shift for 1000 points rally in the coming days. Today buy triggered as per trade setup above 44670 and hit 1st target very smoothly (44670-44915). Bullish move likely to continue above today's high on flat opening. Intraday sentiment will change to bearish below 44670. Be very strict in trailing tomorrow for both side trades.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44920 then we will long for the target of 45130 and 45365.
For selling we need a 15 Min candle close below 44670. T- 44440 and 44200.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
