BANKNIFTY Intraday Trade Setup For 19 Oct 2023 || Daily Analysis
BANKNIFTY Intraday Trade Setup For 19 Oct 2023
Sell_1- From 44270
Invalid-Above 44380
T- 44050 43850
Sell_2- Below 43860
Invalid-Above 43970
T- 43498 43200
BANKNIFTY has closed on a complete bearish note with 1.17% cut today. It opened flat and sell triggered as per trade setup below 44330 and hit almost both our targets. It made a low of 43862 and gave more than 450 points. Tomorrow once again index can crash if it below 43860. Best opening condition is flat or a small gap down opening. In case of a gap up index will not have that powerful bearish stance. I will ignore buying tomorrow and will plan to sell from 44270 in case of a gap up.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes below 43860 then we will short for the target of 43498 and 43200.
2nd selling can be planned from 44270 in case it is tested after gap up opening. T- 44050 and 43850.
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.
Sell_1- From 44270
Invalid-Above 44380
T- 44050 43850
Sell_2- Below 43860
Invalid-Above 43970
T- 43498 43200
BANKNIFTY has closed on a complete bearish note with 1.17% cut today. It opened flat and sell triggered as per trade setup below 44330 and hit almost both our targets. It made a low of 43862 and gave more than 450 points. Tomorrow once again index can crash if it below 43860. Best opening condition is flat or a small gap down opening. In case of a gap up index will not have that powerful bearish stance. I will ignore buying tomorrow and will plan to sell from 44270 in case of a gap up.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes below 43860 then we will short for the target of 43498 and 43200.
2nd selling can be planned from 44270 in case it is tested after gap up opening. T- 44050 and 43850.
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.
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