BANKNIFTY Intraday Trade Setup For 14 Aug 2023
BANKNIFTY Intraday Trade Setup For 14 Aug 2023
Bullish-Above 44470
Invalid-Below 44360
T- 44737 45050
Bearish-Below 44120
Invalid-Above 44230
T- 43795 43515
BANKNIFTY has closed on a bearish sentiment last day and week with 0.77% and 1.52% cut respectively. Since 45620 broke we have been in sell on rise mode. And every week it has been updated that index is 'sell on rise' especially in hourly TF. Next probable support seems near 43200 zone. While major support is 42500 zone. No bullish view till we get a breakout of last swing high in daily TF. 44470-80 and 44120 are important levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44470 then we will long. T- 44737 45050.
For selling we need a 15 Min candle close below 44120. T- 43795 and 43515.
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.
Bullish-Above 44470
Invalid-Below 44360
T- 44737 45050
Bearish-Below 44120
Invalid-Above 44230
T- 43795 43515
BANKNIFTY has closed on a bearish sentiment last day and week with 0.77% and 1.52% cut respectively. Since 45620 broke we have been in sell on rise mode. And every week it has been updated that index is 'sell on rise' especially in hourly TF. Next probable support seems near 43200 zone. While major support is 42500 zone. No bullish view till we get a breakout of last swing high in daily TF. 44470-80 and 44120 are important levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44470 then we will long. T- 44737 45050.
For selling we need a 15 Min candle close below 44120. T- 43795 and 43515.
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.
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