BANKNIFTY Intraday Trade Setup For 18 May 2023
BANKNIFTY Intraday Trade Setup For 18 May 2023
Buy-Above 43765
Sl-43660
T- 43957 44150
Sell-Below 43440
Sl-43545
T- 43240 43000
BANKNIFTY has closed on a bearish note with 0.57% cut today. It closed below PDL today. So below today's low our TSL in long will be hit and a down move/pullback may start in this case. Today sell triggered below 43810 and gave more than 350 points gain. Above the trendline plotted on a bullish price structure we may head towards ATH again. Below 43440 it is likely to give good downside move.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43765 then we will long for the target of 43957 and 44150+
For selling we need a 15 Min candle close below 43440. T- 42240 and 43000.
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 43765
Sl-43660
T- 43957 44150
Sell-Below 43440
Sl-43545
T- 43240 43000
BANKNIFTY has closed on a bearish note with 0.57% cut today. It closed below PDL today. So below today's low our TSL in long will be hit and a down move/pullback may start in this case. Today sell triggered below 43810 and gave more than 350 points gain. Above the trendline plotted on a bullish price structure we may head towards ATH again. Below 43440 it is likely to give good downside move.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43765 then we will long for the target of 43957 and 44150+
For selling we need a 15 Min candle close below 43440. T- 42240 and 43000.
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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