BANKNIFTY Intraday Trade Setup For 26 Dec 2022
Buy- 41845
Sl-41735
T- 42040 42230
Sell-Below 41595
Sl-41705
T-41290 41050
BANKNIFTY has closed on a negative note last day and last week. We already discussed that since last 11 weeks index was closing above Previous Week Low (PWL). It was clearly mentioned last week that if we break last week's low- 43080 then we will see good down move which will be the initial pullback of the mega rally. After trigger index has given 1480+ points non stop trendy move. 1st target will be near 40765 and to ride till target TSL will be PDH. Also 41500 is a round level so there can be halt at this juncture.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41845 then we will long for the target of 42040 and 42230.
For selling we need a 15 Min candle close below 41595. T- 41290, 41050.
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- 41845
Sl-41735
T- 42040 42230
Sell-Below 41595
Sl-41705
T-41290 41050
BANKNIFTY has closed on a negative note last day and last week. We already discussed that since last 11 weeks index was closing above Previous Week Low (PWL). It was clearly mentioned last week that if we break last week's low- 43080 then we will see good down move which will be the initial pullback of the mega rally. After trigger index has given 1480+ points non stop trendy move. 1st target will be near 40765 and to ride till target TSL will be PDH. Also 41500 is a round level so there can be halt at this juncture.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41845 then we will long for the target of 42040 and 42230.
For selling we need a 15 Min candle close below 41595. T- 41290, 41050.
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.
