BANKNIFTY Intraday Trade Setup For 12 Jan 2023
Buy-Above 42320
Sl-42210
T- 42550 42800
Sell-Below 42000
Sl-42110
T-41730 41355
BANKNIFTY has closed on a slight bullish sentiment with more than half percent gain. It has closed near day high which is a bullish sign. This bullishness will continue above today's high. Decent contraction has happened in today's session. Contraction burst likely to happen the and below ascending triangle which can be seen in 15 Min TF. Whichever side market gives breakout be strict with trailing as market is just to volatile to handle; especially in the 1st hour. Daily candle looks a buyer's candle so below today's low aggressive selling can be seen.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42320 then we will long for the target of 42550 and 42800.
For selling we need a 15 min candle close below 42000. T- 41730 and 41355. Extended target- 41000.
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 42320
Sl-42210
T- 42550 42800
Sell-Below 42000
Sl-42110
T-41730 41355
BANKNIFTY has closed on a slight bullish sentiment with more than half percent gain. It has closed near day high which is a bullish sign. This bullishness will continue above today's high. Decent contraction has happened in today's session. Contraction burst likely to happen the and below ascending triangle which can be seen in 15 Min TF. Whichever side market gives breakout be strict with trailing as market is just to volatile to handle; especially in the 1st hour. Daily candle looks a buyer's candle so below today's low aggressive selling can be seen.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42320 then we will long for the target of 42550 and 42800.
For selling we need a 15 min candle close below 42000. T- 41730 and 41355. Extended target- 41000.
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.
