BANKNIFTY Intraday Trade Setup For 28 Jul 2023
Sell-From 46060
Invalid-Above 46170
T- 45775 45570
Bearish-Below 45570
Invalid-Above 45680
T- 45227 44890
BANKNIFTY has closed on a bearish note with 0.83% cut today. It has formed a bearish engulfing candle in daily TF. Approach will be to sell on rise till it gives a breakout of 46370. Today it opened directly at 1st buy target via gap up. Later 10 o'clock range broke downside below 46175 and gave a trendy move. Meanwhile sell also triggered 45900 and hit 1st target (45575) very smoothly. In case of a gap up tomorrow we will plan for sell near 46060, one can safely do below 1st 5Min candle low.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 45570 then we will long for the target of 45227 and 44890.
2nd sell position from 46060 in case of gap up. T- 45775 and 45570.
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.
Sell-From 46060
Invalid-Above 46170
T- 45775 45570
Bearish-Below 45570
Invalid-Above 45680
T- 45227 44890
BANKNIFTY has closed on a bearish note with 0.83% cut today. It has formed a bearish engulfing candle in daily TF. Approach will be to sell on rise till it gives a breakout of 46370. Today it opened directly at 1st buy target via gap up. Later 10 o'clock range broke downside below 46175 and gave a trendy move. Meanwhile sell also triggered 45900 and hit 1st target (45575) very smoothly. In case of a gap up tomorrow we will plan for sell near 46060, one can safely do below 1st 5Min candle low.
Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 45570 then we will long for the target of 45227 and 44890.
2nd sell position from 46060 in case of gap up. T- 45775 and 45570.
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.
