BANKNIFTY Intraday Trade Setup For 19 May 2022
Buy-Above 34400
Sl-34300
T-34600 34800 35000
Sell-Below 34130
Sl-34250
T-34000 33800 33600
BANKNIFTY has formed an negative candle on Wednesday and closed at day low. We planned to buy above 34400. It hit our 1st target 34600 and fell from the PRZ area. Both moves were clean and smooth. Market is likely to show volatile move tomorrow.
If index opens a little bit gap down or flat then selling trade will be effortless. In that case sell below 34130 if a 15 Min candle close below. targets will be 34000, 33800 and 33600. Book max at 33600.
If index opens flat and a 15 min candle closes above 34400 then long for the target of 34600. Above 34660 target will be 34800. Short covering move will come above 34800.
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 Support- 33600
Intraday Resistance- 34800
Hourly Support- 33000
Hourly Resistance-35500
Buy-Above 34400
Sl-34300
T-34600 34800 35000
Sell-Below 34130
Sl-34250
T-34000 33800 33600
BANKNIFTY has formed an negative candle on Wednesday and closed at day low. We planned to buy above 34400. It hit our 1st target 34600 and fell from the PRZ area. Both moves were clean and smooth. Market is likely to show volatile move tomorrow.
If index opens a little bit gap down or flat then selling trade will be effortless. In that case sell below 34130 if a 15 Min candle close below. targets will be 34000, 33800 and 33600. Book max at 33600.
If index opens flat and a 15 min candle closes above 34400 then long for the target of 34600. Above 34660 target will be 34800. Short covering move will come above 34800.
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 Support- 33600
Intraday Resistance- 34800
Hourly Support- 33000
Hourly Resistance-35500
