BANKNIFTY Intraday Trade Setup For 21 Sep 2023
Bullish-Above 45470
Invalid-Below 45360
T- 45650 45820
Bearish-Below 45270
Invalid-Above 45380
T- 45025 44780
BANKNIFTY has closed on a bearish sentiment with 1.29% cut today. It opened with a big gap down and 10 o'clock range was to be used as per trade setup. Range broke downside below 45454 and last swing high was near 45550. With 100 points risk it gave more than 170 points gain till 45277. Tomorrow there is a high chance of recovery as it at hourly support zone. In case it opens flat or below 45460 on break of 45470 in 15 Min TF we can trade the bounce in hourly TF. 44800 and 45820 are important support and resistance respectively.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 45470 then we will long for the target of 45650 and 45820.
For selling we need a 15 min candle close below 45270. T- 45025 and 44780.
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.
Bullish-Above 45470
Invalid-Below 45360
T- 45650 45820
Bearish-Below 45270
Invalid-Above 45380
T- 45025 44780
BANKNIFTY has closed on a bearish sentiment with 1.29% cut today. It opened with a big gap down and 10 o'clock range was to be used as per trade setup. Range broke downside below 45454 and last swing high was near 45550. With 100 points risk it gave more than 170 points gain till 45277. Tomorrow there is a high chance of recovery as it at hourly support zone. In case it opens flat or below 45460 on break of 45470 in 15 Min TF we can trade the bounce in hourly TF. 44800 and 45820 are important support and resistance respectively.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 45470 then we will long for the target of 45650 and 45820.
For selling we need a 15 min candle close below 45270. T- 45025 and 44780.
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.
