BANKNIFTY Intraday Trade Setup For 29 May 2023
BANKNIFTY Intraday Trade Setup For 29 May 2023
Buy-Above 44070
Sl-43965
T- 44300 44531
Sell-Below 43840
Sl-43945
T- 43580 43330
BANKNIFTY has closed on a slight bullish sentiment last week and day with 0.48% and 0.77% respectively. Last week it was inside the the range of 44160 and 43440 CB. Daily range for this week is 44160 and 43390. This range breakout has to be sustained in daily TF. A good bullish momentum is likely to unfold above ATH. Below 43390 position sell will be triggered. Bullish momentum likely to continue above 44070, best suited on flat on flat opening.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44300 and 44531.
For selling we need a 15 Min candle closes below 43840. T- 43580 and 43330. 43735 can be an intraday support.
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 44070
Sl-43965
T- 44300 44531
Sell-Below 43840
Sl-43945
T- 43580 43330
BANKNIFTY has closed on a slight bullish sentiment last week and day with 0.48% and 0.77% respectively. Last week it was inside the the range of 44160 and 43440 CB. Daily range for this week is 44160 and 43390. This range breakout has to be sustained in daily TF. A good bullish momentum is likely to unfold above ATH. Below 43390 position sell will be triggered. Bullish momentum likely to continue above 44070, best suited on flat on flat opening.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44300 and 44531.
For selling we need a 15 Min candle closes below 43840. T- 43580 and 43330. 43735 can be an intraday support.
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.
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