BANKNIFTY Intraday Trade Setup For 17 Jan 2023
Buy-Above 42460
Sl-42350
T-42700 42950
Sell-Below 42060
Sl-42170
T-41885 41710
BANKNIFTY has closed on a bearish sentiment with 0.48% cut today. It opened with a gap up directly at PRZ plotted 42700. A dot reversal was seen from there. It opened with a decent gap up and we already planned that we will trade on 10 o'clock range breakout. It broke below 42445 and 300 points profit with just 100 points sl. Market is likely to show these big length volatile moves ahead of budget. Index has made a range of 980 (42720-41720) points in hourly TF. In between it will be seesaw market.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42460 then we will long for the target of 42700 and 42950.
For selling we need a 15 Min candle close below 42060. T- 41885 and 41710.
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 42460
Sl-42350
T-42700 42950
Sell-Below 42060
Sl-42170
T-41885 41710
BANKNIFTY has closed on a bearish sentiment with 0.48% cut today. It opened with a gap up directly at PRZ plotted 42700. A dot reversal was seen from there. It opened with a decent gap up and we already planned that we will trade on 10 o'clock range breakout. It broke below 42445 and 300 points profit with just 100 points sl. Market is likely to show these big length volatile moves ahead of budget. Index has made a range of 980 (42720-41720) points in hourly TF. In between it will be seesaw market.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42460 then we will long for the target of 42700 and 42950.
For selling we need a 15 Min candle close below 42060. T- 41885 and 41710.
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.
