BANKNIFTY Intraday Trade Setup For 14 July 2023
BANKNIFTY Intraday Trade Setup For 14 July 2023
Buy-Above 44870
Sl-44760
T- 45125 45370
Sell-Below 45610
Sl-45720
T- 44350 44110
BANKNIFTY has closed on an absolute flat note today. Buy triggered as per trade setup above 44940 and gave 140 points gain but did not hit our expected target. Once again the same sell the rise worked perfectly in today's market. This in every trade setup it has been mentioned that in each rise we have to find a reversal structure (M structure) in 5 Min TF for a sell trade as index has entered decline phase. Today's high is a bit important for any sort of bullish reversal in hourly TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 45090 then we will long for the target of 45370 and 45655.
For selling we need a 15 Min candle close below 44610. T- 44350 and 44110.
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 44870
Sl-44760
T- 45125 45370
Sell-Below 45610
Sl-45720
T- 44350 44110
BANKNIFTY has closed on an absolute flat note today. Buy triggered as per trade setup above 44940 and gave 140 points gain but did not hit our expected target. Once again the same sell the rise worked perfectly in today's market. This in every trade setup it has been mentioned that in each rise we have to find a reversal structure (M structure) in 5 Min TF for a sell trade as index has entered decline phase. Today's high is a bit important for any sort of bullish reversal in hourly TF.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 45090 then we will long for the target of 45370 and 45655.
For selling we need a 15 Min candle close below 44610. T- 44350 and 44110.
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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