BANKNIFTY Intraday Trade Setup For 18 Aug 2023
Bullish-Above 44075
Invalid-Below 43965
T- 44325 44575
Bearish-Below 43740
Invalid-Above 43850
T- 43490 43239
BANKNIFTY has closed almost flat today with minor cut of 0.13%. It has formed a neutral doji candle in daily TF. Buy triggered as per trade setup above 44005, last day it was said to be very strict in trailing as per previous swings in any side. Long trade hit TSL near cost. Then sell triggered as per trade setup which ended again near cost EOD. Tomorrow above 44075 buyers will try to close the week on a bullish sentiment, below 43740 it will be bearish. Be strict in trailing in 5 MIN TF as per previous high/low.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44075 then we will long for the target of 44325 and 44575.
For selling we need a 15 Min candle close below 43740. T- 43490 and 43239.
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.
Bullish-Above 44075
Invalid-Below 43965
T- 44325 44575
Bearish-Below 43740
Invalid-Above 43850
T- 43490 43239
BANKNIFTY has closed almost flat today with minor cut of 0.13%. It has formed a neutral doji candle in daily TF. Buy triggered as per trade setup above 44005, last day it was said to be very strict in trailing as per previous swings in any side. Long trade hit TSL near cost. Then sell triggered as per trade setup which ended again near cost EOD. Tomorrow above 44075 buyers will try to close the week on a bullish sentiment, below 43740 it will be bearish. Be strict in trailing in 5 MIN TF as per previous high/low.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44075 then we will long for the target of 44325 and 44575.
For selling we need a 15 Min candle close below 43740. T- 43490 and 43239.
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.
