BANKNIFTY Intraday Trade Setup For 06 Jul 2023
Buy-Above 45275
Sl-45165
T- 45465 45655
Sell-Below 45070
Sl-45180
T- 44855 44667
BANKNIFTY has closed with a slight cut of 0.33% cut today. Sell triggered as per trade setup below 45220 and gave a small gain of 140 points. Overall it was complete sideways session with almost random moves. Last day it was said that there a possibility of an inside candle so has happened. Divergence between NIFTY and BANKNIFTY has started where the they are strong and slight weak respectively. If buy triggers post 1:30 then there is a strong possibility of short-covering move. 45465 and 45070 are important levels for next session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45275 then we will long for the target of 45465 and 45655.
For selling we need a 15 Min candle close below 45070. T- 44855 and 44667.
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 45275
Sl-45165
T- 45465 45655
Sell-Below 45070
Sl-45180
T- 44855 44667
BANKNIFTY has closed with a slight cut of 0.33% cut today. Sell triggered as per trade setup below 45220 and gave a small gain of 140 points. Overall it was complete sideways session with almost random moves. Last day it was said that there a possibility of an inside candle so has happened. Divergence between NIFTY and BANKNIFTY has started where the they are strong and slight weak respectively. If buy triggers post 1:30 then there is a strong possibility of short-covering move. 45465 and 45070 are important levels for next session.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 45275 then we will long for the target of 45465 and 45655.
For selling we need a 15 Min candle close below 45070. T- 44855 and 44667.
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.
