BANKNIFTY Intraday Trade Setup For 19 Apr 2023
Buy-Above 42365
Sl-42355
T- 42575 42800
Sell-Below 42110
Sl-42220
T-41917 41719
BANKNIFTY has closed on a neutral note and formed an inside candle in daily TF. Its sign of contraction. This usually happens after a big rally. After some days this contraction will burst out till then it can have a sideways momentum. Today by triggered above 42370 and gave more than 120 points gain (1:1). In the second half we saw a profit booking from day high , this move may continue below today's low and proceed towards 41700 zone. Its an inside candle so above 42605 we can expect upside move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42575 and 42800+.
For selling we need a 15 Min candle close below 42110. T- 41917 and 41719.
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 42365
Sl-42355
T- 42575 42800
Sell-Below 42110
Sl-42220
T-41917 41719
BANKNIFTY has closed on a neutral note and formed an inside candle in daily TF. Its sign of contraction. This usually happens after a big rally. After some days this contraction will burst out till then it can have a sideways momentum. Today by triggered above 42370 and gave more than 120 points gain (1:1). In the second half we saw a profit booking from day high , this move may continue below today's low and proceed towards 41700 zone. Its an inside candle so above 42605 we can expect upside move.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42575 and 42800+.
For selling we need a 15 Min candle close below 42110. T- 41917 and 41719.
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.
