BANKNIFTY Intraday Trade Setup For 11 Jul 2023
Buy-Above 44950
Sl-44840
T- 45230 45445
Sell-Below 44720
Sl-44830
T- 44443 44220
BANKNIFTY has closed on a with a slight cut of 0.14% today. Buy triggered as per trade setup which hit sl then sell triggered which did not give us gain EOD. All up moves have to be carefully observed for a reversal structure in 5 Min TF as index is in decline phase. Important support lies near 44443-44500 as per CIP in daily TF. If at all market makes a bearish price structure in daily TF then this region/level can be the neckline area. 44950 and 44720 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44950 then we will long. T- 45230 and 45445.
For selling we need a 15 Min candle close below 44720. T- 4443 and 44220.
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 44950
Sl-44840
T- 45230 45445
Sell-Below 44720
Sl-44830
T- 44443 44220
BANKNIFTY has closed on a with a slight cut of 0.14% today. Buy triggered as per trade setup which hit sl then sell triggered which did not give us gain EOD. All up moves have to be carefully observed for a reversal structure in 5 Min TF as index is in decline phase. Important support lies near 44443-44500 as per CIP in daily TF. If at all market makes a bearish price structure in daily TF then this region/level can be the neckline area. 44950 and 44720 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44950 then we will long. T- 45230 and 45445.
For selling we need a 15 Min candle close below 44720. T- 4443 and 44220.
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.
