BANKNIFTY Intraday Trade Setup For 26 May 2023
Buy-Above 43720
Sl-43615
T- 43910 44100
Sell-Below 43390
Sl-43495
T- 43200 43017
BANKNIFTY has closed on absolute flat note today. Sell triggered below 43635 and hit our 1st target very smoothly (43635-43391). There was a sharp recovery from the 1st support zone and it closed at day high. Today hourly zone was tested, now below 43390 we will open a short short trade below 43390 positionally. It has formed a pin bar candle in daily charts, above its high 43720 there can be good up move. 43555 is deciding level for both sides in intraday. However we will short below 43390.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43720 then we will long for the target of 43910 and 44100.
For selling we need a 15 Min candle close below 43390. T- 43200 and 43017.
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 43720
Sl-43615
T- 43910 44100
Sell-Below 43390
Sl-43495
T- 43200 43017
BANKNIFTY has closed on absolute flat note today. Sell triggered below 43635 and hit our 1st target very smoothly (43635-43391). There was a sharp recovery from the 1st support zone and it closed at day high. Today hourly zone was tested, now below 43390 we will open a short short trade below 43390 positionally. It has formed a pin bar candle in daily charts, above its high 43720 there can be good up move. 43555 is deciding level for both sides in intraday. However we will short below 43390.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43720 then we will long for the target of 43910 and 44100.
For selling we need a 15 Min candle close below 43390. T- 43200 and 43017.
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.
