BANKNIFTY Intraday Trade Setup For 24 Apr 2023
Buy-Above 42190
Sl- 42080
T- 42416 42645
Sell-Below 41960
Sl-42070
T- 41735 41500
BANKNIFTY has closed on a flat note last week. Last week it was said that probability of a pullback is very high . Unlike NIFTY we saw a small pullback this week but closed almost flat. Majority of the daily candle were indecisive. 42385 and 41960 are the two important level for a fresh move on breakout. 41790 is more important if it tested in the very next week. We may start a healthy downside move in that case. Whichever side it gives breakout we will plan the trade in that direction for this week.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42190 then we will long for the target of 42416 and 42645.
For selling we need a 15 Min candle close below 41960. T- 41735 and 41500.
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 42190
Sl- 42080
T- 42416 42645
Sell-Below 41960
Sl-42070
T- 41735 41500
BANKNIFTY has closed on a flat note last week. Last week it was said that probability of a pullback is very high . Unlike NIFTY we saw a small pullback this week but closed almost flat. Majority of the daily candle were indecisive. 42385 and 41960 are the two important level for a fresh move on breakout. 41790 is more important if it tested in the very next week. We may start a healthy downside move in that case. Whichever side it gives breakout we will plan the trade in that direction for this week.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42190 then we will long for the target of 42416 and 42645.
For selling we need a 15 Min candle close below 41960. T- 41735 and 41500.
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.
