BANKNIFTY Intraday Trade Setup For 9 Jul 2024
Bullish-Above 52820
Invalid-Below 52710
T- 53400+
Bearish-Below 52250
Invalid-Above 52360
T- 51680
BANKNIFTY has closed with a very small gain of 0.61% gain last week. It has formed a shooting star candle in weekly TF and its low is 51990 , this level is also a hourly swing low. Below its low, shooting star will be active and a bearish grip can be seen in the coming days. 52820 and 52250 will be levels for Monday to watch out for breakout.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53400+.
For selling we need a 15 Min candle close below 52250. 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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