BANKNIFTY Intraday Trade Setup For 25 Nov 2022
Buy-Above 43165
Sl-43050
T-43350 43522 43686
Sell-Below 42870
Sl-42980
T-42676 42460
BANKNIFTY has closed on positive note with 0.81% gain today. It has closed at all time high. As per trade setup buy triggered and gave a move above 42861 till 43160+. It was a bit noisy and sideways for more than 4 hours in between. Rally in NIFTY was smoother as no trailing sl was hit. It has closed above round level- 43000. Bullish sentiment likely to continue above today's high. If a bearish price structure establishes below 43000 in 5 Min TF then we can slide.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43165 then we will long for the target of 43350, 43522 and 43686.
For selling we need 15 Min candle closes below 42870. Target will be 42676 and 42460.
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 43165
Sl-43050
T-43350 43522 43686
Sell-Below 42870
Sl-42980
T-42676 42460
BANKNIFTY has closed on positive note with 0.81% gain today. It has closed at all time high. As per trade setup buy triggered and gave a move above 42861 till 43160+. It was a bit noisy and sideways for more than 4 hours in between. Rally in NIFTY was smoother as no trailing sl was hit. It has closed above round level- 43000. Bullish sentiment likely to continue above today's high. If a bearish price structure establishes below 43000 in 5 Min TF then we can slide.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43165 then we will long for the target of 43350, 43522 and 43686.
For selling we need 15 Min candle closes below 42870. Target will be 42676 and 42460.
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.
