BANKNIFTY Intraday Trade Setup For 02 May 2023
Buy-Above 43305
Sl-43195
T- 43535 43765
Sell-Below 43000
Sl-43110
T- 42789 42600
BANKNIFTY has closed on a bullish sentiment with 0.54% and 2.65% gain last day and week respectively. Last week it was said that above 42385 is the breakout level when price was at 42118. After it was triggered it has given more than 900 points gain. We will ride this trade with TSL as PDL (CB). There will be sentimental halt only when we will close below PDL. Bullish momentum likely to continue above today's high. We have been riding this mega move from 39710 in pieces.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 43310 then we will long for the target of 43535 and 43765.
For selling we need a 15 Min candle close below 43000. T- 42789 and 42600.
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 43305
Sl-43195
T- 43535 43765
Sell-Below 43000
Sl-43110
T- 42789 42600
BANKNIFTY has closed on a bullish sentiment with 0.54% and 2.65% gain last day and week respectively. Last week it was said that above 42385 is the breakout level when price was at 42118. After it was triggered it has given more than 900 points gain. We will ride this trade with TSL as PDL (CB). There will be sentimental halt only when we will close below PDL. Bullish momentum likely to continue above today's high. We have been riding this mega move from 39710 in pieces.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 43310 then we will long for the target of 43535 and 43765.
For selling we need a 15 Min candle close below 43000. T- 42789 and 42600.
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.
