BANKNIFTY Intraday Trade Setup For 30 Aug 2022
Buy-Above 38400
Sl-38290
T-38635 38835 39035
Sell-Below 38160
Sl- 38270
T-37995 37665 37400
BANKNIFTY has tested the daily swing low 37945 which is the neckline for the next downside movement. It gave a sharp bounce from 38000 till 38397+. We planned to trade on the 10 o'clock range in case of any big gap up/down. But after the sharp bounce in the 1st 45 Min it just consolidated between 10 o'clock range.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 38400 then we will long for the target of 38635-55, 38835 and 39035.
For selling we need a 15 Min candle close below 38160. We will short for the target of 38000 after a bounce from 38000 if 37940 is broken then a sharp fall can be seen till 37665 and 37400.
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 38400
Sl-38290
T-38635 38835 39035
Sell-Below 38160
Sl- 38270
T-37995 37665 37400
BANKNIFTY has tested the daily swing low 37945 which is the neckline for the next downside movement. It gave a sharp bounce from 38000 till 38397+. We planned to trade on the 10 o'clock range in case of any big gap up/down. But after the sharp bounce in the 1st 45 Min it just consolidated between 10 o'clock range.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 38400 then we will long for the target of 38635-55, 38835 and 39035.
For selling we need a 15 Min candle close below 38160. We will short for the target of 38000 after a bounce from 38000 if 37940 is broken then a sharp fall can be seen till 37665 and 37400.
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.
