BANKNIFTY Intraday Trade Setup For 18 Jul 2022
Buy-Above 34900
Sl-34800
T-35000 35100
Sell-Below 34460
Sl-34560
T-34300 34100
BANKNIFTY has closed almost flat on Friday and formed a doji type candle which is a sign of indecision. High and low of the candle becomes important. So we will simply use Friday's high and low for building a long and a short trade respectively. We will see a good sell-off below 34450 as weekly candle is a bit negative. However above 35550 we will head towards 36100 and above.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 34900 we will long for the target of 35000 and 35100.
On a flat opening if a 5 Min candle closes below 34460 we will short for the target of 34300 and 34100.
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 34900
Sl-34800
T-35000 35100
Sell-Below 34460
Sl-34560
T-34300 34100
BANKNIFTY has closed almost flat on Friday and formed a doji type candle which is a sign of indecision. High and low of the candle becomes important. So we will simply use Friday's high and low for building a long and a short trade respectively. We will see a good sell-off below 34450 as weekly candle is a bit negative. However above 35550 we will head towards 36100 and above.
Coming to Monday's trade setup, if index opens flat and a 5 Min candle closes above 34900 we will long for the target of 35000 and 35100.
On a flat opening if a 5 Min candle closes below 34460 we will short for the target of 34300 and 34100.
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.
