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Niftybank

BANKNIFTY trade setupThe banknifty index is stuck in a range from 44150 to 43500 levels , any breakout or breakdown of these levels can give a directional move in the index , on the downside expect banknifty to touch 42800 levels if the range is broken downside ,higher probability trade will be on the upside if all time highs of index ie 44150 levels gets broken , one can enter on retest for targets of 44500 and 45k in short term , personally will try to avoid shorting this bull index
NSE:BANKNIFTYLong
by sniper1290
BANKNIFTY Intraday Trade Setup For 18 May 2023BANKNIFTY Intraday Trade Setup For 18 May 2023 Buy-Above 43765 Sl-43660 T- 43957 44150 Sell-Below 43440 Sl-43545 T- 43240 43000 BANKNIFTY has closed on a bearish note with 0.57% cut today. It closed below PDL today. So below today's low our TSL in long will be hit and a down move/pullback may start in this case. Today sell triggered below 43810 and gave more than 350 points gain. Above the trendline plotted on a bullish price structure we may head towards ATH again. Below 43440 it is likely to give good downside move. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43765 then we will long for the target of 43957 and 44150+ For selling we need a 15 Min candle close below 43440. T- 42240 and 43000. 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.
NSE:BANKNIFTY
by Omahto
1
BANKNIFTY Intraday Trade Setup For 17 May 2023BANKNIFTY Intraday Trade Setup For 17 May 2023 Buy-Above 44155 Sl-44050 T- 44355 44555 Sell-Below 43810 Sl-43915 T- 43570 43330 BANKNIFTY has closed on a bearish note with 0.38% cut today. Yesterday it was updated that our long target is hit (42385-44150). A pause was obvious after a fantastic rally. Sell triggered as per trade setup and gave around 130 points gain (44000-43852). If a daily candle closes below PDL and below that red candle's low we will book longs completely and in this case will will initiate the pullback move. Bullish momentum above 44155 and below 43810 downside momentum possible. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44155 then we will long for the target of 44355 and 44555. For selling we need a 15 Min candle close below 43810. T- 43570 and 43330. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 16 May 2023BANKNIFTY Intraday Trade Setup For 16 May 2023 Buy-Above 44155 Sl-44050 T- 44355 44555 Sell-Below 44000 Sl-44105 T- 43800 43595 BANKNIFTY has closed on a bullish sentiment with 0.64% gain today. It hit our 1st target in long which we have been carrying from 42385 (24 Apr). Currently it is giving more than 1700 points. Till now our TSL is intact which is PDL on closing basis. If a daily candle closes below PDL and that red candle's low is breached then we will exit with TSL. In case of TSL we will have a pullback scenario. Sustaining above today's high will lead a fresh rally tomorrow. 44k is important for downside. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44155 then we will long for the target of 44355 and 44555. For selling we need a 15 Min candle closes below 44000. T- 43800 and 43595. 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.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 16-05-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 16-05-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
BANKNIFTY Intraday Trade Setup For 15 May 2023BANKNIFTY Intraday Trade Setup For 15 May 2023 Buy-Above 43910 Sl-43805 T- 44110 44305 Sell-Below 43595 Sl-43700 T- 43330 43070 BANKNIFTY closed on a bullish sentiment last day and week with 0.73% and 2.65% respectively. Last week it was said that we are likely to create a sideways momentum. It was moreover in range of 42600 and 43800. Upper range has been tested last day of the week. Above 43910, range is likely to shift and chances of a fresh ATH is very high. We have been riding our long trade from 42385. If a daily candle closes below PDL and that red candle's low is breached then we will exit with that as TSL. Also this will create a pullback scenario. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 43910 then we will long for the target of 44110 and 44305. For selling we need a 15 Min candle close below 43595. T- 43330 and 43070. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 12 May 2023BANKNIFTY Intraday Trade Setup For 12 May 2023 Buy-Above 43675 Sl-43570 T- 43950 44220 Sell-Below 43365 Sl-43470 T- 43080 42780 BANKNIFTY has closed on a bullish with a slight gain of 0.33% today. It opened with a decent gap gap and gave a huge flick in the 1st 1 Min candle. Buy triggered as per trade setup above 43385 and hit our 1st target very smoothly. Trade gave more than 250 points gain. Then it turned sideways for the rest of the day. In the beginning of this week it was said that we are likely to witness a sideways momentum overall this week. This is common after an impulsive move, so has happened. Next week we can see a trendy move on range breakout formed this week. Above today's high we may record a fresh ATH. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43675 then we will long for the target of 43950 and 44220. For selling we need a 15 Min candle close below 43365. T- 43080 and 42780. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 11 May 2023BANKNIFTY Intraday Trade Setup For 11 May 2023 Buy-Above 43385 Sl-43280 T- 43640 43820 Sell-Below 43170 Sl-43275 T- 42975 42780 BANKNIFTY has closed on a bullish sentiment with 0.31% gain today. It has formed a Pin bar candle in daily TF which shows bullishness. Our TSL in long from 42385 is intact. If a daily candle closes below PDL and that red candle's low is breached then we will exit our longs and in that case there will be possibility of pullback down move. Today sell triggered below 43120 and hit almost both the targets (43120-42822). Bullishness likely to continue above today's high. Also today's low is very important. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43385 then we will long for the target of 43640 and 43820. For selling we need a 15 Min candle close below 43170. T- 42975 and 42780. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 10 May 2023BANKNIFTY Intraday Trade Setup For 10 May 2023 Buy-Above 43350 Sl-43245 T- 43555 43775 Sell-Below 43120 Sl-43225 T- 42937 42759 BANKNIFTY has closed on a slight bearish sentiment with 0.2% cut. Today buy triggered as per trades setup above 43420 and gave more than 110 points gain which was 1:1. Later profit booking took place from day high. After an impulse some sideways momentum is very obvious that is why we have 2 consecutive inside candles in daily TF. Above today's high - 43535 if sustained we will have very good bullish momentum whenever it is triggered. Below today's low we can slide till some extent. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 43345 then we will long for the target of 43555 and 43775. For selling we need a 15 Min candle close below 43120. T- 42937 and 42759. 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.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 09-05-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 09-05-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
BANKNIFTY Intraday Trade Setup For 09 May 2023BANKNIFTY Intraday Trade Setup For 09 May 2023 Buy-Above 43420 Sl-43315 T- 43638 43858 Sell-Below 43195 Sl-43300 T- 42989 42780 BANKNIFTY has closed on a bullish sentiment with almost 1.5% gain today. Last day index closed below PDL and today it failed to hit our TSL in long as that candle's low was safe and eventually it rallied. Last day a pullback was scenario was discussed that there is a possibility that it can test 43335 in the 1st hour so has happened. Also price fell almost 150 points from 0.618 plotted. Tomorrow's best trade will be done on flat opening. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43420 then we will long for the target of 43638 and 43858. For selling we need a 15 Min candle close below 43195. T- 42989 and 42780. 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.
NSE:BANKNIFTY
by Omahto