BANKNIFTY Intraday Trade Setup For 6 Jun 2022
Buy-Above 35400
Sl-35300
T-35600 35700
Sell-Below 35175
Sl-35300
T-34950 34800
BANKNIFTY closed in a negative note on Friday. It opened with a big gap up and a free fall was seen in both the indices. The daily candle is a complete bearish engulfing, broken the one week range in the downside. 35300 which was acting as a support was broken. We can expect further fall below 35175 till 34500 in the coming weeks.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below 35200. We will short below 35175 for the target of 34950 and 34800.
Safe traders can avoid buying trades. But aggressive traders can buy if a 15 Min candle closes above 35400. Target will be near 35600.
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.
Intraday Support- 34950
Intraday Resistance- 35650
Hourly Support- 34500
Hourly Resistance- 36000
Buy-Above 35400
Sl-35300
T-35600 35700
Sell-Below 35175
Sl-35300
T-34950 34800
BANKNIFTY closed in a negative note on Friday. It opened with a big gap up and a free fall was seen in both the indices. The daily candle is a complete bearish engulfing, broken the one week range in the downside. 35300 which was acting as a support was broken. We can expect further fall below 35175 till 34500 in the coming weeks.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below 35200. We will short below 35175 for the target of 34950 and 34800.
Safe traders can avoid buying trades. But aggressive traders can buy if a 15 Min candle closes above 35400. Target will be near 35600.
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.
Intraday Support- 34950
Intraday Resistance- 35650
Hourly Support- 34500
Hourly Resistance- 36000
