BANKNIFTY Intraday Trade Setup For 21 Nov 2023
Bullish-Above 43730
Invalid-Below 43620
T- 44015 44285
Bearish-Below 43450
Invalid-Above 43560
T- 43221 42976
BANKNIFTY has closed on a complete sideways note today. Sell triggered as per trade setup below 43510 which hit sl and later ended completely flat. Tomorrow below 43450 if sustained we can see a very good trendy downside move. Daily candle is a neutral doji so both side moves are possible. Above and below its high and
low we have to plan trade the next day. It looks like there will be good momentum whichever side it triggers.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43730 then we will long for the target of 44015 and 44285.
For selling we need a 15 min candle close below 43450. T- 43221 and 42976.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 43730
Invalid-Below 43620
T- 44015 44285
Bearish-Below 43450
Invalid-Above 43560
T- 43221 42976
BANKNIFTY has closed on a complete sideways note today. Sell triggered as per trade setup below 43510 which hit sl and later ended completely flat. Tomorrow below 43450 if sustained we can see a very good trendy downside move. Daily candle is a neutral doji so both side moves are possible. Above and below its high and
low we have to plan trade the next day. It looks like there will be good momentum whichever side it triggers.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43730 then we will long for the target of 44015 and 44285.
For selling we need a 15 min candle close below 43450. T- 43221 and 42976.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
