BANKNIFTY Intraday Trade Setup For 17 Aug 2022
Buy-Above 39290
Sl-39170
T- 39425 39533
Sell-Below 39120
Sl- 39250
T-38960 38825
BANKNIFTY has closed on a positive note with more than 200 points gain. More than half of the gain came via gap up. The daily candle is like a spinning top. Below candle's low we can expect a selling pressure to build. But if low is safe and high is broken then bullish sentiment will be triggered and we will head higher. Tomorrow's closing will be important to watch.
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle closes above 39290 we will long for the target of 39425. Above 39450 we will hit 39533. 39533-50 is a resistance area.
For selling we need a 15 Min candle below 39120. Post breakdown we will hit 38957 and 38825.
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 39290
Sl-39170
T- 39425 39533
Sell-Below 39120
Sl- 39250
T-38960 38825
BANKNIFTY has closed on a positive note with more than 200 points gain. More than half of the gain came via gap up. The daily candle is like a spinning top. Below candle's low we can expect a selling pressure to build. But if low is safe and high is broken then bullish sentiment will be triggered and we will head higher. Tomorrow's closing will be important to watch.
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle closes above 39290 we will long for the target of 39425. Above 39450 we will hit 39533. 39533-50 is a resistance area.
For selling we need a 15 Min candle below 39120. Post breakdown we will hit 38957 and 38825.
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.
