BANKNIFTY Intraday Trade Setup For 23 May 2023
Buy-Above 44030
Sl-43925
T- 44305 44555
Sell-Below 43680
Sl-43785
T- 43480 43275
BANKNIFTY has closed with a slight cut of 0.19% today. Last day it formed a Pin bar and we anticipated a bullish momentum above its high. It did not trigger our buy level as 15 Min candle did not close. Later sell triggered below 43790 and gave 100 points gain (1:1). A Pin bar candle has been formed once again in daily TF, high and low are very important for a directional move. It has formed a symmetrical triangle in 15 Min TF. Breakout of this and sustained price action will give us a good direction move.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44030. T- 44305 and 44555.
For selling we need a 15 Min candle close below 43680. T- 43480 and 43275.
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 44030
Sl-43925
T- 44305 44555
Sell-Below 43680
Sl-43785
T- 43480 43275
BANKNIFTY has closed with a slight cut of 0.19% today. Last day it formed a Pin bar and we anticipated a bullish momentum above its high. It did not trigger our buy level as 15 Min candle did not close. Later sell triggered below 43790 and gave 100 points gain (1:1). A Pin bar candle has been formed once again in daily TF, high and low are very important for a directional move. It has formed a symmetrical triangle in 15 Min TF. Breakout of this and sustained price action will give us a good direction move.
Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44030. T- 44305 and 44555.
For selling we need a 15 Min candle close below 43680. T- 43480 and 43275.
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.
