BANKNIFTY Intraday Trade Setup For 23 Nov 2022
Buy-Above 42510
Sl-42400
T- 42637 42750 42870
Sell-Below 42345
Sl-42455
T-42200 42060 41890
BANKNIFTY closed on a slight positive note with 0.26% gain. Previous day loss regained today and a small tiny candle formed in daily TF. Currently index is just consolidating between a small range which is 42650 and 42200. This range breakout will lead a fresh move either side. Till then index is likely to trade without momentum with ultra short length swings in intraday; VIX has gone below 14. Today buy triggered @ 42390 on a 15 Min candle close and hit the 1st target. It took whole day to hit 115 points target.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42510 then we will long for the target of 42637, 42750 and 42870.
For selling we need a 15 Min candle close below 42345. Target will be 42200, 42060 and 41890.
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 42510
Sl-42400
T- 42637 42750 42870
Sell-Below 42345
Sl-42455
T-42200 42060 41890
BANKNIFTY closed on a slight positive note with 0.26% gain. Previous day loss regained today and a small tiny candle formed in daily TF. Currently index is just consolidating between a small range which is 42650 and 42200. This range breakout will lead a fresh move either side. Till then index is likely to trade without momentum with ultra short length swings in intraday; VIX has gone below 14. Today buy triggered @ 42390 on a 15 Min candle close and hit the 1st target. It took whole day to hit 115 points target.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42510 then we will long for the target of 42637, 42750 and 42870.
For selling we need a 15 Min candle close below 42345. Target will be 42200, 42060 and 41890.
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.
