BANKNIFTY Intraday Trade Setup For 22 Aug 2023
Bullish-Above 44120
Invalid-Below 44010
T- 44320 44550
Bearish-Below 43940
Invalid-Above 44050
T- 43720 43500
BANKNIFTY has closed on a slight positive note with 0.34% gain today. Last day it was updated that 44100 is an important level for our short position(from 45620). Today after testing the hourly resistance of 44100 it corrected. Now Above 44120 we will cut our short position completely. There is a chance of reversal in hourly TF above 44120. Today buy triggered as per trade setup above 43960 and gave around 150 points gain.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44120 then we will long for the target of 44320 and 44550.
For selling we need a 15 min candle close below 43940. T- 43720 and 43500.
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 44120
Invalid-Below 44010
T- 44320 44550
Bearish-Below 43940
Invalid-Above 44050
T- 43720 43500
BANKNIFTY has closed on a slight positive note with 0.34% gain today. Last day it was updated that 44100 is an important level for our short position(from 45620). Today after testing the hourly resistance of 44100 it corrected. Now Above 44120 we will cut our short position completely. There is a chance of reversal in hourly TF above 44120. Today buy triggered as per trade setup above 43960 and gave around 150 points gain.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44120 then we will long for the target of 44320 and 44550.
For selling we need a 15 min candle close below 43940. T- 43720 and 43500.
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.
