BANKNIFTY Intraday Trade Setup For 31 Oct 2022
BANKNIFTY Intraday Trade Setup For 31 Oct 2022
Buy-Above 41065
Sl-40950
T- 41265 41500+
Sell-Below 40835
Sl-40950
T-40610 40330
BANKNIFTY has closed just in the positive territory last weak. A tiny candle red candle with slight positive gains has been formed. On Friday buying trade hit a 110 points sl then we sell triggered and that gave more than 300 points gain. Inside candle's range was broken and gave 180 points move but end of the day closed inside the range. Now the range is 41550 and 40835. Directional move is expected on this breakout. Also we are trading at crucial levels as ATH is nearby. We need some price action in daily TF for further move expectancy.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 41065 then we will long for the target of 41265, 41400 and near 41500 levels.
For selling we need a 15 Min candle close below 40835. Target will be 40610 and 40330.
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 41065
Sl-40950
T- 41265 41500+
Sell-Below 40835
Sl-40950
T-40610 40330
BANKNIFTY has closed just in the positive territory last weak. A tiny candle red candle with slight positive gains has been formed. On Friday buying trade hit a 110 points sl then we sell triggered and that gave more than 300 points gain. Inside candle's range was broken and gave 180 points move but end of the day closed inside the range. Now the range is 41550 and 40835. Directional move is expected on this breakout. Also we are trading at crucial levels as ATH is nearby. We need some price action in daily TF for further move expectancy.
Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 41065 then we will long for the target of 41265, 41400 and near 41500 levels.
For selling we need a 15 Min candle close below 40835. Target will be 40610 and 40330.
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.
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