BANKNIFTY Intraday Trade Setup For 19 Aug 2022
Buy-Above 39705
Sl-39690
T-39850 40025
Sell-Below 39500
Sl-39615
T-39300 39120
BANKNIFTY gas closed on a positive note once again with 0.5% gain. Today it opened with a slight gap down but closed at day high. Bullish sentiment is on and will be till it closes above previous day low. Weakness will come only when daily candle closes below PDL. Last day we planned to sell below 32300, level was tested but candle did not close. We also planned to buy above 39505, it hit our 1st target and gave more than 100 points.
Coming to tomorrow's trade setup, if index opens flat and 5/15 Min candle closes above 39705 then we will long for the target of 39850, 40025. Extended target will be 40185. 40k is a psychological level, consider booking profits.
For selling we need a 15 Min candle close below 39500. Post breakdown we will short for the target of 39300. Below 39290 we will test 39120 and below.
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 39705
Sl-39690
T-39850 40025
Sell-Below 39500
Sl-39615
T-39300 39120
BANKNIFTY gas closed on a positive note once again with 0.5% gain. Today it opened with a slight gap down but closed at day high. Bullish sentiment is on and will be till it closes above previous day low. Weakness will come only when daily candle closes below PDL. Last day we planned to sell below 32300, level was tested but candle did not close. We also planned to buy above 39505, it hit our 1st target and gave more than 100 points.
Coming to tomorrow's trade setup, if index opens flat and 5/15 Min candle closes above 39705 then we will long for the target of 39850, 40025. Extended target will be 40185. 40k is a psychological level, consider booking profits.
For selling we need a 15 Min candle close below 39500. Post breakdown we will short for the target of 39300. Below 39290 we will test 39120 and below.
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.
