BANKNIFTY Intraday Trade Setup For 5 Apr 2023
Buy-Above 40860
Sl-40750
T- 41130 41350
Sell-Below 40650
Sl-40760
T- 40438 40180
BANKNIFTY closed on a bullish sentiment with 0.5% gain on Monday. Last day buy triggered as per trade setup. It gave a move from 40700 till 40850+. Bullishness will be intact till we safeguard PDL (CB). 1000+ points gained after we initiated buy @39710 shared on 20 Mar trade setup. Now trail sl aggressively with hourly swing lows or PDL on closing basis. Projected target is near 41350. Keep an eye on the trendline plotted in 15 Min TF.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40860 then we will long for the target of 41130 and 41350.
For selling we need a 15 Min candle close below 40650. T- 40438 and 40180.
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 40860
Sl-40750
T- 41130 41350
Sell-Below 40650
Sl-40760
T- 40438 40180
BANKNIFTY closed on a bullish sentiment with 0.5% gain on Monday. Last day buy triggered as per trade setup. It gave a move from 40700 till 40850+. Bullishness will be intact till we safeguard PDL (CB). 1000+ points gained after we initiated buy @39710 shared on 20 Mar trade setup. Now trail sl aggressively with hourly swing lows or PDL on closing basis. Projected target is near 41350. Keep an eye on the trendline plotted in 15 Min TF.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40860 then we will long for the target of 41130 and 41350.
For selling we need a 15 Min candle close below 40650. T- 40438 and 40180.
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.
