BANKNIFTY Intraday Trade Setup For 14 Nov 2022
Buy-Above 42350
Sl-42235
T-42580 42835 43055
Sell-Below 42070
Sl-42185
T-41880 41575 41300
BANKNIFTY gave a all time high closing last day and week. It closed with a moderate gain of more than 2% last week. Now it can stretch itself with extended gains from these levels. This leg of up-move started above 39610 which was well updated with all of you. Now TSL for long will be 41300. This level should be held firmly by the bulls. In case it slips below this level then it will start a downside journey to test 40800 and below levels. While important swing low is weekly TF is 37385. Also for any down move we have to spot a bearish price structure (M) in daily TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 42055.
For selling we need a 15 Min candle close below 42070. Target will be 41880, 41575 and 41300.
Keep a strict trailing sl with RR.
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 42350
Sl-42235
T-42580 42835 43055
Sell-Below 42070
Sl-42185
T-41880 41575 41300
BANKNIFTY gave a all time high closing last day and week. It closed with a moderate gain of more than 2% last week. Now it can stretch itself with extended gains from these levels. This leg of up-move started above 39610 which was well updated with all of you. Now TSL for long will be 41300. This level should be held firmly by the bulls. In case it slips below this level then it will start a downside journey to test 40800 and below levels. While important swing low is weekly TF is 37385. Also for any down move we have to spot a bearish price structure (M) in daily TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 42055.
For selling we need a 15 Min candle close below 42070. Target will be 41880, 41575 and 41300.
Keep a strict trailing sl with RR.
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.
