BANKNIFTY Intraday Trade Setup For 11 May 2023
Buy-Above 43385
Sl-43280
T- 43640 43820
Sell-Below 43170
Sl-43275
T- 42975 42780
BANKNIFTY has closed on a bullish sentiment with 0.31% gain today. It has formed a Pin bar candle in daily TF which shows bullishness. Our TSL in long from 42385 is intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit our longs and in that case there will be possibility of pullback down move. Today sell triggered below 43120 and hit almost both the targets (43120-42822). Bullishness likely to continue above today's high. Also today's low is very important.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43385 then we will long for the target of 43640 and 43820.
For selling we need a 15 Min candle close below 43170. T- 42975 and 42780.
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 43385
Sl-43280
T- 43640 43820
Sell-Below 43170
Sl-43275
T- 42975 42780
BANKNIFTY has closed on a bullish sentiment with 0.31% gain today. It has formed a Pin bar candle in daily TF which shows bullishness. Our TSL in long from 42385 is intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit our longs and in that case there will be possibility of pullback down move. Today sell triggered below 43120 and hit almost both the targets (43120-42822). Bullishness likely to continue above today's high. Also today's low is very important.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43385 then we will long for the target of 43640 and 43820.
For selling we need a 15 Min candle close below 43170. T- 42975 and 42780.
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.
