BANKNIFTY Intraday Trade Setup For 13 Jan 2023
Buy-Above 42135
Sl-42025
T- 42340 42565 42800
Sell-Below 41950
Sl-42060
T-41740 41348 41000
BANKNIFTY has closed on a slight bearish note with 0.36% cut today. It was another volatile day with volatile swings. As per trade setup, sell triggered below 42000 and hit 1st target. This trade gave more than 250 points. Sharp moves were common in today's session. In daily TF two consecutive hammer candles have been formed. Above its high - 42350 it will give good upside momentum. Since its a buyer's candle so below its low- 41700 aggressive selling can be seen. Initial move of 600 points can be achieved either side. In between we can see usual unpredictable sharp moves.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42135 then we will long. T- 42340, 42565 an 42800.
For selling we need a 15 Min candle close below 41729. T- 41545 41350 and 41000.
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 42135
Sl-42025
T- 42340 42565 42800
Sell-Below 41950
Sl-42060
T-41740 41348 41000
BANKNIFTY has closed on a slight bearish note with 0.36% cut today. It was another volatile day with volatile swings. As per trade setup, sell triggered below 42000 and hit 1st target. This trade gave more than 250 points. Sharp moves were common in today's session. In daily TF two consecutive hammer candles have been formed. Above its high - 42350 it will give good upside momentum. Since its a buyer's candle so below its low- 41700 aggressive selling can be seen. Initial move of 600 points can be achieved either side. In between we can see usual unpredictable sharp moves.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42135 then we will long. T- 42340, 42565 an 42800.
For selling we need a 15 Min candle close below 41729. T- 41545 41350 and 41000.
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.
