BANKNIFTY Intraday Trade Setup For 24 Aug 2022
Buy-Above 38870
Sl-38650
T-39190 39375 39555
Sell-Below 38490
Sl-38600
T-38200 38000
BANKNIFTY has closed on a positive note today with more than 1% gain. It opened with a decent gap down near 37950 and a sharp recovery was seen from opening levels which a PRZ level plotted in yesterday's setup. Last day we planned to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range broke upside above 38570 and gave a move till 38869.
Coming to tomorrow's trade setup, if we open flat and a 5/15 Min candle closes above 38870 then we will long for the target of 38200. Next upside targets will be 39375 and 39555.
For selling we need a 5/15 Min candle close below 38490. Post breakdown we will short for the target of 38200 Below 38180 we will test 37950 again.
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 38870
Sl-38650
T-39190 39375 39555
Sell-Below 38490
Sl-38600
T-38200 38000
BANKNIFTY has closed on a positive note today with more than 1% gain. It opened with a decent gap down near 37950 and a sharp recovery was seen from opening levels which a PRZ level plotted in yesterday's setup. Last day we planned to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range broke upside above 38570 and gave a move till 38869.
Coming to tomorrow's trade setup, if we open flat and a 5/15 Min candle closes above 38870 then we will long for the target of 38200. Next upside targets will be 39375 and 39555.
For selling we need a 5/15 Min candle close below 38490. Post breakdown we will short for the target of 38200 Below 38180 we will test 37950 again.
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.
