BANKNIFTY Intraday Trade Setup For 22 Nov 2023

BANKNIFTY Intraday Trade Setup For 22 Nov 2023

Bullish-Above 43780
Invalid-Below 43670
T- 44031 44285

Bearish-Below 43580
Invalid- 43690
T- 43345 43120

BANKNIFTY has closed on a slight bullish note with 0.24% gain today. It opened with a decent gap up and was almost sideways the whole day except the put spike. Best trade looks in long side which can trigger a fast momentum. Below 43660 it will have a bearish stance. 43780 and 43580 are important levels to look for breakout. Both side momentum can be good tomorrow.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 43780 then we will long for the target of 44031 and 44285.

For selling we need a 15 Min candle close below 43580. T- 43345 and 43120.

In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.

I am Not SEBI Registered

This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.


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