BANKNIFTY Intraday Trade Setup For 19 May 2023
Buy-Above 43930
Sl-43825
T- 44150 44355
Sell-Below 43670
Sl-43775
T- 43450 43240
BANKNIFTY has closed with a slight positive gain today. Till now it has not closed below PDL after hitting our ATH target. If it closes below PDL and that red candle's low is breached then will book completely and this will initiate the pullback/down move. Today it opened with a big gap up and 10 o'clock range broke downside below 43844 and gave more than 170 points gain. 43930 and 43670 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43930 then we will long. T- 44150. above 44155 it will test 44355 and 4455.
For selling we need a 15 min candle close below 43670. T- 43450. Below 43440 it will test 43240 and 43000.
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 43930
Sl-43825
T- 44150 44355
Sell-Below 43670
Sl-43775
T- 43450 43240
BANKNIFTY has closed with a slight positive gain today. Till now it has not closed below PDL after hitting our ATH target. If it closes below PDL and that red candle's low is breached then will book completely and this will initiate the pullback/down move. Today it opened with a big gap up and 10 o'clock range broke downside below 43844 and gave more than 170 points gain. 43930 and 43670 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43930 then we will long. T- 44150. above 44155 it will test 44355 and 4455.
For selling we need a 15 min candle close below 43670. T- 43450. Below 43440 it will test 43240 and 43000.
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.
