Bank Intraday Trade Setup | 5th July

BankNifty opened with a minor gap-up and it faced resistance near our Buy level which was 34800, we bought 34700 PE at 255 which gave a good profit. In the second half, it broke 34800 levels and hit the first target as per the trade set-up.

BankNifty is trading in a triangle pattern and the range is narrowing down, we are expecting a big trend move once it breaks the triangle on either side.

Expectations for Tomorrow: Volatile day.

Resistance: 35040
Support: 34663

Intraday Levels:
Buy Above 34900
Sell Below 34600

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!

Komentarz:

Bought at 35050