BANKNIFTY Intraday Trade Setup For 19 Jan 2023
Buy-Above 42560
Sl-42450
T-42730 42911
Sell-Below 42355
Sl-42465
T-42110 41860
BANKNIFTY has closed on a bullish sentiment with 0.53% gain today. Today it opened almost flat and as per last day's trade setup buy triggered above 42310 and hit 1st target very smoothly. This trade gave more than 240 points gain (42310-42555) which was 1:2. Later it turned total sideways and traded within 200 points range. Tomorrow's trade setup is based on this range breakout. 42730 is hourly resistance, breakout will impact range shift in the coming days. 41700 is the hourly low, breakdown can lead to sharp fall in the coming days.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42560 then we will long for the target of 42730 and 42911.
For selling we need a 15 Min candle close below 42355. T- 42110. Post bounce if index breaks 42100 then it will test 41860 and below.
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 42560
Sl-42450
T-42730 42911
Sell-Below 42355
Sl-42465
T-42110 41860
BANKNIFTY has closed on a bullish sentiment with 0.53% gain today. Today it opened almost flat and as per last day's trade setup buy triggered above 42310 and hit 1st target very smoothly. This trade gave more than 240 points gain (42310-42555) which was 1:2. Later it turned total sideways and traded within 200 points range. Tomorrow's trade setup is based on this range breakout. 42730 is hourly resistance, breakout will impact range shift in the coming days. 41700 is the hourly low, breakdown can lead to sharp fall in the coming days.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42560 then we will long for the target of 42730 and 42911.
For selling we need a 15 Min candle close below 42355. T- 42110. Post bounce if index breaks 42100 then it will test 41860 and below.
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.
