BANKNIFTY Intraday Trade Setup For 26 Oct 2023 || Daily Analysis
BANKNIFTY Intraday Trade Setup For 26 Oct 2023
Bullish-Above 43000
Invalid-Below 42890
T- 43335 43650
Bearish-Below 42750
Invalid-Above 42860
T- 42420 42155
BANKNIFTY has closed on a complete bearish note with 0.74% cut today. Sell triggered as per trade setup below 43020 and hit 1st target by closing (43020- 42760). Tomorrow once again on a flat opening below 42750 we will get a trendy downside move. For a bullish move it has to sustain above 43000 in 15 Min TF. So 43000 and 42750 are important levels for tomorrow's session to look for breakout.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43000 then we will long for the target of 43335 and 43650.
For selling we need a 15 min candle close below 42750. T- 42420 and 42155.
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.
Bullish-Above 43000
Invalid-Below 42890
T- 43335 43650
Bearish-Below 42750
Invalid-Above 42860
T- 42420 42155
BANKNIFTY has closed on a complete bearish note with 0.74% cut today. Sell triggered as per trade setup below 43020 and hit 1st target by closing (43020- 42760). Tomorrow once again on a flat opening below 42750 we will get a trendy downside move. For a bullish move it has to sustain above 43000 in 15 Min TF. So 43000 and 42750 are important levels for tomorrow's session to look for breakout.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43000 then we will long for the target of 43335 and 43650.
For selling we need a 15 min candle close below 42750. T- 42420 and 42155.
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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