BANKNIFTY Intraday Trade Setup For 20 Jan 2023
Buy-Above 42385
Sl-42275
T- 42555 42730
Sell-Below 42230
Sl-42340
T-42040 41860
BANKNIFTY has closed on a bearish sentiment with 0.3% cut today. Today it opened with slight cut due to US market sell off last night. Since opening it was almost firm. Whole day it traded on a sideways note. Sell triggered as per trade setup @ 42355 and gave more than 110 points gain which was 1:1. Throughout whole day sideways momentum was noticed. In fact this sentiment is valid since last day second half.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42385 then we will long of the target of 42550 and 42730.
For selling we need a 15 Min candle close below 42230. T- 42040. post bounce if we sustain below 42000 then it will test 42860 and below.
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 42385
Sl-42275
T- 42555 42730
Sell-Below 42230
Sl-42340
T-42040 41860
BANKNIFTY has closed on a bearish sentiment with 0.3% cut today. Today it opened with slight cut due to US market sell off last night. Since opening it was almost firm. Whole day it traded on a sideways note. Sell triggered as per trade setup @ 42355 and gave more than 110 points gain which was 1:1. Throughout whole day sideways momentum was noticed. In fact this sentiment is valid since last day second half.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42385 then we will long of the target of 42550 and 42730.
For selling we need a 15 Min candle close below 42230. T- 42040. post bounce if we sustain below 42000 then it will test 42860 and below.
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.
