BANKNIFTY Intraday Trade Setup For 8 Jul 2022

BANKNIFTY Intraday Trade Setup For 8 Jul 2022

Buy-Above 34965
Sl-34850
T-35110 35300

Sell-Below 34650
Sl-34750
T-34450 34320

BANKNIFTY has once again closed on positive note with 1.7% gain. Last day we planned to buy above 34390 but it opened with a very big gap up. Then 10 o'clock range broke upside above 34705 (11:55 5 MIN candle). and gave a trendy move till 34900+. It was a trendy trade.

Coming to tomorrow's trade setup, if index opens flat and crosses today's high- 34970 or a 15 Min candle closes above. We will long for the target of 35110 and 35275-300.

For selling we need a 15 Min candle close below 34650. Post breakdown we will short for the target of 34450 and 34320.

In case it opens with a big gap up above 35100. We will short below the 1st 5/15 Min candle's low.

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.

Intraday Resistance- 35300
Intraday Support- 34300
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