BANKNIFTY Intraday Trade Setup For 8 Aug 2022
Buy-Above 38035
Sl-37920
T-38150 38350 38500
Sell-Below 37780
Sl-37900
T- 37655 37520 37350
BANKNIFTY has formed an inside candle in daily TF. It closed with a 0.45 gain on Friday. Next momentum will come above mother candle's high (38250) and low (37200). Important resistance is 38250 and support is 37200. Next momentum will come above these levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 38035 we will long for the target of 38150. Above 38235 we will head towards 38500 and 38677.
If a 15 Min candle closes below 37780 we will short for the target of 37656 and 37520. Below 37500 we will head towards 37350.
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 38035
Sl-37920
T-38150 38350 38500
Sell-Below 37780
Sl-37900
T- 37655 37520 37350
BANKNIFTY has formed an inside candle in daily TF. It closed with a 0.45 gain on Friday. Next momentum will come above mother candle's high (38250) and low (37200). Important resistance is 38250 and support is 37200. Next momentum will come above these levels.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 38035 we will long for the target of 38150. Above 38235 we will head towards 38500 and 38677.
If a 15 Min candle closes below 37780 we will short for the target of 37656 and 37520. Below 37500 we will head towards 37350.
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.
