BANKNIFTY Intraday Trade Setup For 13 Apr 2022
Buy-Above 38000
Sl-37900
T-38200 38350 38600
Sell-Below 37250
Sl-37350
T-37000 36800 36565
BANKNIFTY is still in the same range being followed since last 5 trading session. explained many times and discussed yesterday that when a script trades in range, sell at resistance and buy at support. this strategy is used. Today was another great example day. We planned to sell below 37500. This trade gave more than 200 points profit. Important level was 37340. This level was tested but not sustained, candle did not close. And as usual range trading, it took support from this zone and shot up till 37900+.
Coming to tomorrow's expiry trade setup, we will simply wait for the breakout of 38000. It needs to sustain above this. 38000 has been tested multiple time. Breakout can give good move. Target will be 38200,38350 and 38600.
For selling we need to wait till today's low is breached. We need a candle close below 37260. below this target will be opened for 37000 and 36800. Final target ill be 36565.
In case of a big gap up/down, mark the high and low of the trading range till 10 o'clock. Trade on this range breakout.
Buy-Above 38000
Sl-37900
T-38200 38350 38600
Sell-Below 37250
Sl-37350
T-37000 36800 36565
BANKNIFTY is still in the same range being followed since last 5 trading session. explained many times and discussed yesterday that when a script trades in range, sell at resistance and buy at support. this strategy is used. Today was another great example day. We planned to sell below 37500. This trade gave more than 200 points profit. Important level was 37340. This level was tested but not sustained, candle did not close. And as usual range trading, it took support from this zone and shot up till 37900+.
Coming to tomorrow's expiry trade setup, we will simply wait for the breakout of 38000. It needs to sustain above this. 38000 has been tested multiple time. Breakout can give good move. Target will be 38200,38350 and 38600.
For selling we need to wait till today's low is breached. We need a candle close below 37260. below this target will be opened for 37000 and 36800. Final target ill be 36565.
In case of a big gap up/down, mark the high and low of the trading range till 10 o'clock. Trade on this range breakout.
