BANKNIFTY Intraday Trade Setup For 18 Jul 2023
Buy-Above 45560
Sl-45450
T- 45855 46125
Sell-Below 45040
Sl-45150
T- 44795 44547
BANKNIFTY has closed on a bullish note as expected. Last day we discussed that 44500 area is a CIP support zone in daily TF and yesterday's Pin-bar candle strengthened our view. We expected that support will be taken above 44925 and we will trade that. Today buy triggered as per trade setup in the 2nd half and hit all our targets. Trade gave more than 550 points gain (44925- 45556+) Now bullishness likely to continue above today's high if sustained in 15 MIN post 10 AM.45300 is a crucial zone to watch out for both side price action building.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45560 then we will long for the target of 45855 and 46125.
For selling we need a 15 Min candle close below 45040. T- 44795 and 44547.
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 45560
Sl-45450
T- 45855 46125
Sell-Below 45040
Sl-45150
T- 44795 44547
BANKNIFTY has closed on a bullish note as expected. Last day we discussed that 44500 area is a CIP support zone in daily TF and yesterday's Pin-bar candle strengthened our view. We expected that support will be taken above 44925 and we will trade that. Today buy triggered as per trade setup in the 2nd half and hit all our targets. Trade gave more than 550 points gain (44925- 45556+) Now bullishness likely to continue above today's high if sustained in 15 MIN post 10 AM.45300 is a crucial zone to watch out for both side price action building.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45560 then we will long for the target of 45855 and 46125.
For selling we need a 15 Min candle close below 45040. T- 44795 and 44547.
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.
