BANKNIFTY Intraday Trade Setup For 18 Sep 2023BANKNIFTY Intraday Trade Setup For 18 Sep 2023
Bullish-Above 46320
Invalid-Below 46210
T- 46585 46855
Bearish-Below 46020
Invalid-Below 46130
T- 45720 45415
BANKNIFTY has closed on a bullish sentiment with 2.88% gain last week. Before Sep 8 we were waiting for the daily range shift to get a directional move. Range was 45k and 44K which broke in the upside on 8 Sep and we got a decent move (45160-46310, more than 1:1). Also we are very close to our target which is a fresh ATH. Now either one can book some or trail sl to PDL (CB). Incase case of a gap down tomorrow 45700 zone can act as support zone.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 46320 then we will long for the target of 46585 and 46855.
For selling we need a 15 min candle close below 46020. T- 45720 and 45415.
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.
