BANKNIFTY Intraday Trade Setup For 20 Jul 2022
Buy-Above 35765
Sl-35650
T-35925 36100 36210
Sell-Below 35400
Sl-35500
T-35250 35110
BANKNIFTY has closed on a positive note with 1% gain. It opened with a decent gap down. Later at 9:50 (5 Min candle) triggered our buy and hit both the targets. It gave a move from 35385-35760.Index has closed above daily resistance- 35550, now it will head towards 36880 level in the coming days. This will momentum bullish momentum will drop below 35100. We have already longed above 34150 on 6 Jul 2022.
Coming to tomorrow's trade setup, if index opens flat and 5 Min candle closes above 35765. We will long for the target of 35925, 36100 and final target 36210.
If a 5 Min candle closes below 35400, we will short for the target of 35250 and 35110. Below 35100 we will retest 36500 level in the coming days.
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 35765
Sl-35650
T-35925 36100 36210
Sell-Below 35400
Sl-35500
T-35250 35110
BANKNIFTY has closed on a positive note with 1% gain. It opened with a decent gap down. Later at 9:50 (5 Min candle) triggered our buy and hit both the targets. It gave a move from 35385-35760.Index has closed above daily resistance- 35550, now it will head towards 36880 level in the coming days. This will momentum bullish momentum will drop below 35100. We have already longed above 34150 on 6 Jul 2022.
Coming to tomorrow's trade setup, if index opens flat and 5 Min candle closes above 35765. We will long for the target of 35925, 36100 and final target 36210.
If a 5 Min candle closes below 35400, we will short for the target of 35250 and 35110. Below 35100 we will retest 36500 level in the coming days.
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.
