BANKNIFTY Intraday trade Setup For 16 Sep 2022
Buy-Above 41525
Sl-41415
T-41763 42027
Sell-Below 41150
Sl-41265
T-40843 40465
BANKNIFTY has closed on a negative note today with almost 0.5% gain. Today it made a fresh ATH. Last day we planned to buy above 41630. It gave more than 200 points gain and hit ATH then took resistance and fell. It has made a shooting star candle and closed near day low. Below today's low we can expect a profit booking. Important resistance now is 41850. Swings will be bigger in intraday for some time, so trade with caution.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 41150 then we will short for the target of 40843 and 40465. Always trail with RR management as swings will be bigger.
For buying we need a 15 Min candle close above 41525. Upside target will be near 41763-41800. Above 41850 we will hit 42027.
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 41525
Sl-41415
T-41763 42027
Sell-Below 41150
Sl-41265
T-40843 40465
BANKNIFTY has closed on a negative note today with almost 0.5% gain. Today it made a fresh ATH. Last day we planned to buy above 41630. It gave more than 200 points gain and hit ATH then took resistance and fell. It has made a shooting star candle and closed near day low. Below today's low we can expect a profit booking. Important resistance now is 41850. Swings will be bigger in intraday for some time, so trade with caution.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 41150 then we will short for the target of 40843 and 40465. Always trail with RR management as swings will be bigger.
For buying we need a 15 Min candle close above 41525. Upside target will be near 41763-41800. Above 41850 we will hit 42027.
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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.