BANKNIFTY Intraday Trade Setup For 24 Aug 2023
Bullish-Above 44525
Invalid-Below 44415
T- 44777 45015
Bearish Below 44340
Invalid-Above 44450
T- 44150 43950
BANKNIFTY has closed on bold bullish note with more than 1% gain today. Since last two sessions index was in a tight range. Also it was updated multiple time that index is trading near key resistance level- 44100 which is also our TSL for the short position from 45620; if it sustains above 41100 there will be bullish reversal. It sustained in hourly TF and a clear cut move we enjoyed. Buy triggered as per trade setup above 44155 and hit almost both targets. Next resistance will be near 44800 zone.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44525 then we will long for the target of 44777 and 45015.
For selling we need a 15 Min candle close below 44340. T- 44150 and 43950.
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.
Bullish-Above 44525
Invalid-Below 44415
T- 44777 45015
Bearish Below 44340
Invalid-Above 44450
T- 44150 43950
BANKNIFTY has closed on bold bullish note with more than 1% gain today. Since last two sessions index was in a tight range. Also it was updated multiple time that index is trading near key resistance level- 44100 which is also our TSL for the short position from 45620; if it sustains above 41100 there will be bullish reversal. It sustained in hourly TF and a clear cut move we enjoyed. Buy triggered as per trade setup above 44155 and hit almost both targets. Next resistance will be near 44800 zone.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44525 then we will long for the target of 44777 and 45015.
For selling we need a 15 Min candle close below 44340. T- 44150 and 43950.
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.
