BANKNIFTY Intraday Trade Setup For 17 May 2022
Buy-Above 33830
Sl-33700
T-34000 34200 34400
Sell-Below 33340
Sl-33450
T-33100 33000 32600
BANKNIFTY has given a sharp bounce from our support level- 33000. It shot up from 33000 to 33800. Made a bullish candle in 15 Min above its high it gave a good move. It has made a 400 points range on Monday's trading session, 33825 and 33340. This range shift will give us trade either side.
Coming to tomorrow's trade setup, if a 15 Min candle closes above 33825 above its high we will long for the target of 34000, 34200 and 34400. book max at 34400.
For selling we need a 15 min candle close below 33350. Below the breakdown candle's low short for the target of 33100 and 33000. Below 33000 Index will head towards 32650.
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.
Hourly Support- 32650
Hourly resistance- 34800
Intraday Support- 33000
Intraday Resistance- 34400
Buy-Above 33830
Sl-33700
T-34000 34200 34400
Sell-Below 33340
Sl-33450
T-33100 33000 32600
BANKNIFTY has given a sharp bounce from our support level- 33000. It shot up from 33000 to 33800. Made a bullish candle in 15 Min above its high it gave a good move. It has made a 400 points range on Monday's trading session, 33825 and 33340. This range shift will give us trade either side.
Coming to tomorrow's trade setup, if a 15 Min candle closes above 33825 above its high we will long for the target of 34000, 34200 and 34400. book max at 34400.
For selling we need a 15 min candle close below 33350. Below the breakdown candle's low short for the target of 33100 and 33000. Below 33000 Index will head towards 32650.
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.
Hourly Support- 32650
Hourly resistance- 34800
Intraday Support- 33000
Intraday Resistance- 34400
