BANKNIFTY Intraday Trade Setup For 18 Aug 2022
Buy-Above 39505
Sl-39400
T-39650 39775 39905
Sell-Below 39305
Sl-39405
T-39200 39120 39000
BANKNIFTY has once again closed on a positive sentiment with more than 200 points gain. The bullish sentiment is on as we are closing above previous day low everyday. Bullish sentiment will take a halt only when a daily candle closes below previous day low. Last day we planned to buy above 39290 on a 15 Min candle close. It hit both our targets and gave more than 200 points gain (39290-39500+).
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle closes above today's high- 39505 then we will long for the target of 39650, 39775 and 39905. Safe traders should enter 39550 as a strong bullish momentum is expected above this level.
For selling we need a 15 Min candle close below 39305. Post breakdown we will short for the target of 39200, 39120 and below 39100 we will head towards 39000 and below.
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 39505
Sl-39400
T-39650 39775 39905
Sell-Below 39305
Sl-39405
T-39200 39120 39000
BANKNIFTY has once again closed on a positive sentiment with more than 200 points gain. The bullish sentiment is on as we are closing above previous day low everyday. Bullish sentiment will take a halt only when a daily candle closes below previous day low. Last day we planned to buy above 39290 on a 15 Min candle close. It hit both our targets and gave more than 200 points gain (39290-39500+).
Coming to tomorrow's trade setup, if index opens flat and 15 Min candle closes above today's high- 39505 then we will long for the target of 39650, 39775 and 39905. Safe traders should enter 39550 as a strong bullish momentum is expected above this level.
For selling we need a 15 Min candle close below 39305. Post breakdown we will short for the target of 39200, 39120 and below 39100 we will head towards 39000 and below.
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.
