BANKNIFTY Intraday Trade Setup For 17 Aug 2023BANKNIFTY Intraday Trade Setup For 17 Aug 2023
Bullish- Above 44005
Invalid-Below 43895
T- 44290 44575
Bearish-Below 43830
Invalid-Above 43940
T- 43535 43239
BANKNIFTY has closed with a 0.33% cut today. it opened with a big gap down but intraday sentiment changed after the 15 Min candle and slowly and slowly there was recovery. 10 o'clock range broke upside above 43852 and gave around 150 points, however sl was hunted in the 1st attempt. Important levels for tomorrow's session are 44005 and 43830. Keep tight trailing in tomorrow's session after trade goes in favor till some extent, valid for both sides.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 44005 then we will long for the target of 44290 and 44575.
For selling we need a 15 Min candle close below 43830. T- 43535 and 43239.
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.
