BANKNIFTY Intraday Trade Setup For 8 Dec 2022
Buy-Above 43185
Sl-43075
T-43377 43537 43713
Sell-Below 42945
Sl-43055
T-42790 42630 42480
BANKNIFTY has closed absolutely flat today. RBI event was scheduled today . There was sharp up move then a larger slide from top then it turned sideways. Buy triggered as per trade setup and gave almost 120 points gain which was 1:1. Then sell triggered which also gave 120+ points gain. Triangle pattern can be spotted in 30 Min chart. Lines are marked in pink. Breakout of this will give a decent move. Inside candle's low has been tested today. Alert has been given in lower side already. It will confirmed below today's low.
Coming to Thursday's trade setup if index opens flat and a 15 Min candle closes above 43185 then we will long for the target of 43377, 43537 and 43713.
For selling we need a 15 Min candle close below 42945. Target will be 42790,42630 and 42480. Index will be weak below 43000 on a 15 Min candle close.
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 43185
Sl-43075
T-43377 43537 43713
Sell-Below 42945
Sl-43055
T-42790 42630 42480
BANKNIFTY has closed absolutely flat today. RBI event was scheduled today . There was sharp up move then a larger slide from top then it turned sideways. Buy triggered as per trade setup and gave almost 120 points gain which was 1:1. Then sell triggered which also gave 120+ points gain. Triangle pattern can be spotted in 30 Min chart. Lines are marked in pink. Breakout of this will give a decent move. Inside candle's low has been tested today. Alert has been given in lower side already. It will confirmed below today's low.
Coming to Thursday's trade setup if index opens flat and a 15 Min candle closes above 43185 then we will long for the target of 43377, 43537 and 43713.
For selling we need a 15 Min candle close below 42945. Target will be 42790,42630 and 42480. Index will be weak below 43000 on a 15 Min candle close.
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.
