BANKNIFTY Intraday Trade Setup For 10 Jul 2024
Bullish-Above 52710
Invalid-Below 52600
T- 53350+
Bearish-Below 52240
Invalid-Above 52350
T- 51680
BANKNIFTY has closed on a slight bullish note with 0.27% gain today. However since 5 Jul EOD, it has been said that 52710 and 52240 is the range to trade on breakout, non-directional approach to be kept inside this range. Since last 3 sessions index has been trading between 52710 and 52240. We need to wait for its breakout to trade directional. Be neutral and wait for market to trigger direction.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+.
For selling we need a 15 Min candle close below 52240. T- 51680.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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