BANKNIFTY Intraday Trade Setup For 7 Nov 2022
BANKNIFTY Intraday Trade Setup For 7 Nov 2022
Buy-Above 41315
Sl-41200
T-41515 41700 41911
Sell-Below 41050
Sl-41165
T-40820 40610 40350
BANKNIFTY has closed on flat note on the last day and week. A neutral doji has been formed in weekly TF. Any side momentum is possible above and below the high(41680) and low(40800) of the candle. Important levels are 41850 and 40800 in daily TF. Breakout will lead to an start of a fresh swing either side. Selling pressure will build only when any previous swing will be broken in daily TF, as of now it is 40800.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41315 then we will long for the target of 41515, 41700 and 41911.
For selling we need a 15 Min candle close below 41050. Target will be 40820, 40610 and 40350.
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 41315
Sl-41200
T-41515 41700 41911
Sell-Below 41050
Sl-41165
T-40820 40610 40350
BANKNIFTY has closed on flat note on the last day and week. A neutral doji has been formed in weekly TF. Any side momentum is possible above and below the high(41680) and low(40800) of the candle. Important levels are 41850 and 40800 in daily TF. Breakout will lead to an start of a fresh swing either side. Selling pressure will build only when any previous swing will be broken in daily TF, as of now it is 40800.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41315 then we will long for the target of 41515, 41700 and 41911.
For selling we need a 15 Min candle close below 41050. Target will be 40820, 40610 and 40350.
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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