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BANKNIFTY Intraday Trade Setup For 16 Jun 2022

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Harmonic Patterns Chart Patterns BANKNIFTY bankniftyanalysis bankniftyintradaytradesetup bankniftytradesetup bankniftyprediction bankniftyforecast bankniftyintradaylevels bankniftylevels niftybank
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trendanalysis harmonicpatterns chartpattern banknifty bankniftyanalysis bankniftyintradaytradesetup bankniftytradesetup bankniftyprediction bankniftyforecast bankniftyintradaylevels bankniftylevels niftybank
BANKNIFTY Intraday Trade Setup For 16 Jun 2022

Buy-Above 33620
Sl-33500
T-33740 33800

Sell-Below 33250
Sl-33350
T-33150 33740

BANKNIFTY has formed an inside candle in daily TF. Closing is absolute flat. It was complete consolidation. Index has been in a range since last 3 days. Broader range is 33800 and 33100. Above and below we can expect a trendy move. Target above 33800 after a daily candle closes will be near 34500. Target below 33100 after a daily candle closes will be near 32150.

Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes below 33250, one can short for a small target till 33150. Below 33100 fresh downside move is expected.

For buying if index a 15 min candle closes above 33620, then long for the target of 33740 and 33800. And if index closes above 33800 in daily TF then gap filling till 34400 is possible.

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.

Intraday Resistance- 33800
Intraday Support-33100

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NIFTY Intraday Trade Setup For 16 Jun 2022
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