BANKNIFTY Intraday Trade Setup For 22 Sep 2022
Buy-Above 41331
Sl-41215
T-41509 41675 41840+
Sell-Below 40889
Sl-41000
T-40730 40500 40300
BANKNIFTY has closed on a slight negative note with 0.64% cut. Current hourly range of index is ATH - 41850 and 40500. Last day we planned to short below 41399 which has given a very good profit(41399-40890). A slight gap down was seen today. 10 o'clock range breakout also gave move below 41160 till 40890. A big gap up or down is expected tomorrow due to FOMC meet outcome.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 41331 then we will long for the target of 41509-50. 2nd target will be 41675. If sustains above then we will hit 42065.
For selling we need a 5/15 Min candle close below 40890. Target will be 40730 and 40500. Below 40500 we ill slide till 40300 and below.
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 41331
Sl-41215
T-41509 41675 41840+
Sell-Below 40889
Sl-41000
T-40730 40500 40300
BANKNIFTY has closed on a slight negative note with 0.64% cut. Current hourly range of index is ATH - 41850 and 40500. Last day we planned to short below 41399 which has given a very good profit(41399-40890). A slight gap down was seen today. 10 o'clock range breakout also gave move below 41160 till 40890. A big gap up or down is expected tomorrow due to FOMC meet outcome.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 41331 then we will long for the target of 41509-50. 2nd target will be 41675. If sustains above then we will hit 42065.
For selling we need a 5/15 Min candle close below 40890. Target will be 40730 and 40500. Below 40500 we ill slide till 40300 and below.
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.
