BANKNIFTY Intraday Trade Setup For 19 Oct 2022
Buy-Above 40436
Sl-40320
T-40600 40779
Sell-Below 40199
Sl-40315
T- 39950 39780
BANKNIFTY has closed on a positive note with 1% gain today. The daily range (39610-38430) was broken in the higher side and has given a very good move till now (39610-40435). Our 1st target was near 40500 which is almost hit. Next target is 40779. Keep trailing sl in 15 Min TF. As per last trade setup, 40300 acted as a resistance today and gave more than 160 points fall from there. 10 o'clock range broke upside @ 40350 and gave 80 points move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40436 then we will long for the target of 40600 and 40779. After 2nd target you can trail and ride.
For selling we need a 15 Min candle close below 40199. Target will be 40070, 39950 and 39780.
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 40436
Sl-40320
T-40600 40779
Sell-Below 40199
Sl-40315
T- 39950 39780
BANKNIFTY has closed on a positive note with 1% gain today. The daily range (39610-38430) was broken in the higher side and has given a very good move till now (39610-40435). Our 1st target was near 40500 which is almost hit. Next target is 40779. Keep trailing sl in 15 Min TF. As per last trade setup, 40300 acted as a resistance today and gave more than 160 points fall from there. 10 o'clock range broke upside @ 40350 and gave 80 points move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40436 then we will long for the target of 40600 and 40779. After 2nd target you can trail and ride.
For selling we need a 15 Min candle close below 40199. Target will be 40070, 39950 and 39780.
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.
