BANKNIFTY Intraday Trade Setup For 19 Sep 2022
Buy-Above 40900
Sl-40790
T- 41200 41500
Sell-Below 40500
Sl- 40610
T- 40300 40085
BANKNIFTY has closed on a negative note with more than 1% cut. On 15 Sep a shooting was spotted at ATH and we planned to short below the candle's low - 41150 and it gave a good directional move of 600+ points. Now the weekly candle is a shooting star. Next move will be triggered below and above shooting star's low and high respectively.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40890 then we will long for the target of 41100, 41200 and 41500 if 41200 is sustained. This trade will be best if we get a pullback before breakout and should be considered.
For selling we need a 5/15 Min candle close below 40500. Downside targets will be 40280, 40085 and 39865.
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 40900
Sl-40790
T- 41200 41500
Sell-Below 40500
Sl- 40610
T- 40300 40085
BANKNIFTY has closed on a negative note with more than 1% cut. On 15 Sep a shooting was spotted at ATH and we planned to short below the candle's low - 41150 and it gave a good directional move of 600+ points. Now the weekly candle is a shooting star. Next move will be triggered below and above shooting star's low and high respectively.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40890 then we will long for the target of 41100, 41200 and 41500 if 41200 is sustained. This trade will be best if we get a pullback before breakout and should be considered.
For selling we need a 5/15 Min candle close below 40500. Downside targets will be 40280, 40085 and 39865.
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.
