BANKNIFTY Intraday Trade Setup For 25 Oct 2022
BANKNIFTY Intraday Trade Setup For 25 Oct 2022
Buy-Above 41430
Sl-41310
T- 41631 41840 42000+
Sell- Below 41200
Sl-41310
T- 40875 40610 40330
BANKNIFTY has closed on a positive note with 1.28% gain. A doji has been created on Monday which is a sign of halt; indecision. Next day closing above or below the candle's high and low will give us the sentiment which side the indecision can turn. After swing buy triggered on 17 Oct 2022 @ 39610 Index has been trending in our favor and we are at striking distance from ATH. TSL can be kept at PDL (CB). Above ATH once again index will be trending for a larger up move.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 41430 then we will long for the target of 41631 and 41840.
For selling we need a 15 Min candle close below 41200. Post breakdown we will short for the target of 40875 and 40610. 41000 is midway so be alert on that as a target.
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 41430
Sl-41310
T- 41631 41840 42000+
Sell- Below 41200
Sl-41310
T- 40875 40610 40330
BANKNIFTY has closed on a positive note with 1.28% gain. A doji has been created on Monday which is a sign of halt; indecision. Next day closing above or below the candle's high and low will give us the sentiment which side the indecision can turn. After swing buy triggered on 17 Oct 2022 @ 39610 Index has been trending in our favor and we are at striking distance from ATH. TSL can be kept at PDL (CB). Above ATH once again index will be trending for a larger up move.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 41430 then we will long for the target of 41631 and 41840.
For selling we need a 15 Min candle close below 41200. Post breakdown we will short for the target of 40875 and 40610. 41000 is midway so be alert on that as a target.
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.
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