BANKNIFTY Intraday Trade Setup For 24 May 2022
Buy-Above 34820
Sl-34700
T-35000 35200 35500
Sell-Below 34100
Sl-34200
T-33950 33750 33600
BANKNIFTY has formed a shooting star candle in daily TF. We planned to buy above 34360. Our final target was the hourly resistance- 34800. It hit our target and gave 450 points gain. Then as as usual fall from resistance till 34120.
Coming to tomorrow's trade setup, we will long only above 34820. If a 15 min candle closes above 34800 then above its high we will long for the target of 35000, 35200 and 35500.
For selling if a 15 Min candle closes below 34150 then below that candle low, short for the target of 33950, 33750 and 33650.
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.
Intraday Resistance- 34650
Intraday Support- 33650
Hourly Support- 33000
Hourly Resistance- 34800
Buy-Above 34820
Sl-34700
T-35000 35200 35500
Sell-Below 34100
Sl-34200
T-33950 33750 33600
BANKNIFTY has formed a shooting star candle in daily TF. We planned to buy above 34360. Our final target was the hourly resistance- 34800. It hit our target and gave 450 points gain. Then as as usual fall from resistance till 34120.
Coming to tomorrow's trade setup, we will long only above 34820. If a 15 min candle closes above 34800 then above its high we will long for the target of 35000, 35200 and 35500.
For selling if a 15 Min candle closes below 34150 then below that candle low, short for the target of 33950, 33750 and 33650.
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.
Intraday Resistance- 34650
Intraday Support- 33650
Hourly Support- 33000
Hourly Resistance- 34800
