BANKNIFTY Intraday Trade Setup For 12 Apr 2023
Buy-Above 41405
Sl-41300
T-41550 41700
Sell-Below 41230
Sl-41330
T-41075 40930
BANKNIFTY has closed on a bullish note with 1.3% gain. Today it opened with a big gap up and sustained that. 10 o'clock range broke upside above 41287 and gave around 100 points gain. Overall it was complete sideways post 10 AM. Nifty had clear moves but BANKNIFTY just slept the whole day. Bullish momentum likely to continue above today's high. Also trailing sl in our positional long is intact. Keep TSL as PDL (CB) or the last swing low - 40700. If it sustains below 41300 then there can weakness.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41405 then we will long for the target of 41550 and 41700.
For selling we need a 15 Min candle close below 41230. T- 41075 and 40930.
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 41405
Sl-41300
T-41550 41700
Sell-Below 41230
Sl-41330
T-41075 40930
BANKNIFTY has closed on a bullish note with 1.3% gain. Today it opened with a big gap up and sustained that. 10 o'clock range broke upside above 41287 and gave around 100 points gain. Overall it was complete sideways post 10 AM. Nifty had clear moves but BANKNIFTY just slept the whole day. Bullish momentum likely to continue above today's high. Also trailing sl in our positional long is intact. Keep TSL as PDL (CB) or the last swing low - 40700. If it sustains below 41300 then there can weakness.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41405 then we will long for the target of 41550 and 41700.
For selling we need a 15 Min candle close below 41230. T- 41075 and 40930.
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.
