BANKNIFTY Intraday Trade Setup For 16 Jan 2023
BANKNIFTY Intraday Trade Setup For 16 Jan 2023
Buy-Above 42455
Sl-42345
T- 42590 42730 42900+
Sell-Below 42260
Sl-42370
T-42050 41885
BANKNIFTY has closed on a positive note with 0.69% gain on Friday. After forming a base at 42700. Now 42700 is very important, breakdown will initiate a larger slide in the coming days. Last day it has closed near day high which is bullish sentiment. Above 42550 this bullish momentum will continue. Also if no previous swing low is broken in hourly TF then slowly and steadily it will inch higher.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42555 then we will long for the target of 42590 and 42730.
For selling we need a 15 Min candle close below 42260. T- 42050 and 41885.
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 42455
Sl-42345
T- 42590 42730 42900+
Sell-Below 42260
Sl-42370
T-42050 41885
BANKNIFTY has closed on a positive note with 0.69% gain on Friday. After forming a base at 42700. Now 42700 is very important, breakdown will initiate a larger slide in the coming days. Last day it has closed near day high which is bullish sentiment. Above 42550 this bullish momentum will continue. Also if no previous swing low is broken in hourly TF then slowly and steadily it will inch higher.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42555 then we will long for the target of 42590 and 42730.
For selling we need a 15 Min candle close below 42260. T- 42050 and 41885.
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.
Trade active:
Dot reversal from PRZ
10 o'clock range broke downside @42445
CMP-42210
230 points gain
More than 1:2 done
Dot reversal from PRZ
10 o'clock range broke downside @42445
CMP-42210
230 points gain
More than 1:2 done
