BANKNIFTY Intraday Trade Setup For 8 Jul 2022
Buy-Above 34965
Sl-34850
T-35110 35300
Sell-Below 34650
Sl-34750
T-34450 34320
BANKNIFTY has once again closed on positive note with 1.7% gain. Last day we planned to buy above 34390 but it opened with a very big gap up. Then 10 o'clock range broke upside above 34705 (11:55 5 MIN candle). and gave a trendy move till 34900+. It was a trendy trade.
Coming to tomorrow's trade setup, if index opens flat and crosses today's high- 34970 or a 15 Min candle closes above. We will long for the target of 35110 and 35275-300.
For selling we need a 15 Min candle close below 34650. Post breakdown we will short for the target of 34450 and 34320.
In case it opens with a big gap up above 35100. We will short below the 1st 5/15 Min candle's low.
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 Resistance- 35300
Intraday Support- 34300
Buy-Above 34965
Sl-34850
T-35110 35300
Sell-Below 34650
Sl-34750
T-34450 34320
BANKNIFTY has once again closed on positive note with 1.7% gain. Last day we planned to buy above 34390 but it opened with a very big gap up. Then 10 o'clock range broke upside above 34705 (11:55 5 MIN candle). and gave a trendy move till 34900+. It was a trendy trade.
Coming to tomorrow's trade setup, if index opens flat and crosses today's high- 34970 or a 15 Min candle closes above. We will long for the target of 35110 and 35275-300.
For selling we need a 15 Min candle close below 34650. Post breakdown we will short for the target of 34450 and 34320.
In case it opens with a big gap up above 35100. We will short below the 1st 5/15 Min candle's low.
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 Resistance- 35300
Intraday Support- 34300
