BANKNIFTY Intraday Trade Setup For 20 Sep 2023
Bullish-Above 46160
Invalid-Below 46050
T- 46400 46630
Bearish-Below 45900
Invalid-Above 46010
T- 45679 45397
BANKNIFTY has closed on a bearish note with 0.54% cut today. It It was sideways and zone till 1'0 clock. Later at the time of closing post 3 PM there were spikes in the downside. Nothing triggered as per trade setup today till 3 PM. Post 3 PM sell was triggered which was void. On a flat opening below 45900 there can be decent sell off in intraday. For a bullish view we have to wait till 46150-60 is sustained in 15 Min TF. it is near ATH so there can be sideways activity before it gets lifted or crashed.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close below 45900 then we will short for the target of 45679 and 45397.
For buying we need a 15 Min candle close above 46160. T- 46400 and 46630.
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.
Bullish-Above 46160
Invalid-Below 46050
T- 46400 46630
Bearish-Below 45900
Invalid-Above 46010
T- 45679 45397
BANKNIFTY has closed on a bearish note with 0.54% cut today. It It was sideways and zone till 1'0 clock. Later at the time of closing post 3 PM there were spikes in the downside. Nothing triggered as per trade setup today till 3 PM. Post 3 PM sell was triggered which was void. On a flat opening below 45900 there can be decent sell off in intraday. For a bullish view we have to wait till 46150-60 is sustained in 15 Min TF. it is near ATH so there can be sideways activity before it gets lifted or crashed.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close below 45900 then we will short for the target of 45679 and 45397.
For buying we need a 15 Min candle close above 46160. T- 46400 and 46630.
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.
