BANKNIFTY Intraday Trade Setup For 20 May 2022
Buy-Above 33400
Sl-33300
T-33600 33750
Sell-Below 33180
Sl-33300
T-33000 32800 32600
BANKNIFTY has closed at 33300 with 2.5% cut. It opened with big gap down. The 10 o'clock range broke downside below 33380 and gave a downside move till 33200. There were deep pullbacks in between. NIFTY was smoother than BANKNIFTY.
Coming to tomorrow's trade setup, if index opens flat or with a small gap down then below 33180 short for the target of 33000. It is hourly support. Below 33000 targets will be opened till 32600.
If index opens a little bit gap up and a 15 Min candle closes above 33400. Long for the target of 33600. No big targets in long side. Safe traders should avoid long.
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- 33000
Intraday Resistance- 34000
Hourly Support- 33000
Hourly Resistance- 34800
Next support below 33000 will be 32600.
Buy-Above 33400
Sl-33300
T-33600 33750
Sell-Below 33180
Sl-33300
T-33000 32800 32600
BANKNIFTY has closed at 33300 with 2.5% cut. It opened with big gap down. The 10 o'clock range broke downside below 33380 and gave a downside move till 33200. There were deep pullbacks in between. NIFTY was smoother than BANKNIFTY.
Coming to tomorrow's trade setup, if index opens flat or with a small gap down then below 33180 short for the target of 33000. It is hourly support. Below 33000 targets will be opened till 32600.
If index opens a little bit gap up and a 15 Min candle closes above 33400. Long for the target of 33600. No big targets in long side. Safe traders should avoid long.
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- 33000
Intraday Resistance- 34000
Hourly Support- 33000
Hourly Resistance- 34800
Next support below 33000 will be 32600.
