BANKNIFTY Intraday Trade Setup For 21 Oct 2022
Buy-Above 40210
Sl-40095
T-40360 40500 40650
Sell-Below 40024
Sl-40140
T-39850 39710 39550
BANKNIFTY has closed with 0.68% cut today. Our swing long target was hit last day( 19 Oct) which was triggered @ 39610 on 17 Oct. After that index has collapsed around 800 points. Last day we planned planned to sell below 40195 which gave more than 300 points and our 1st target was hit. Usual bounce came came from support. A range has been formed in today's trading session, above and below which a fresh move will come.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40210 then we will long for the target of 40360, 40500. If 40550 is sustained then we will hit 40800.
For selling we need a 15 Min candle close below 40024. Target will be near 39850. Below 39845 we will hit 39710 and 39550.
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 40210
Sl-40095
T-40360 40500 40650
Sell-Below 40024
Sl-40140
T-39850 39710 39550
BANKNIFTY has closed with 0.68% cut today. Our swing long target was hit last day( 19 Oct) which was triggered @ 39610 on 17 Oct. After that index has collapsed around 800 points. Last day we planned planned to sell below 40195 which gave more than 300 points and our 1st target was hit. Usual bounce came came from support. A range has been formed in today's trading session, above and below which a fresh move will come.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40210 then we will long for the target of 40360, 40500. If 40550 is sustained then we will hit 40800.
For selling we need a 15 Min candle close below 40024. Target will be near 39850. Below 39845 we will hit 39710 and 39550.
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.
