BANKNIFTY Intraday Trade Setup For 18 Nov 2022
BANKNIFTY Intraday Trade Setup For 18 Nov 2022
Buy-Above 42625
Sl-42510
T-42835 43055
Sell-Below 42360
Sl-42470
T-42190 42000
BANKNIFTY has closed on a slight negative note with 0.18% cut today. A shooting star has been formed in daily TF which is a sign of reversal. It will be confirmed below its low- 42360. Today it traded inside previous day's range completely. Nothing was triggered as per trade setup. Index has formed a 160 points range in last 2 days. Breakout of this range (42625 and 42360) will trigger the next move. Initial target post breakout will be 250 points either side.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42625 then we will long for the target of 42835 and 43055.
For selling we need a 15 Min candle close below 42360. Target will be 42190 and near 42000.
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 42625
Sl-42510
T-42835 43055
Sell-Below 42360
Sl-42470
T-42190 42000
BANKNIFTY has closed on a slight negative note with 0.18% cut today. A shooting star has been formed in daily TF which is a sign of reversal. It will be confirmed below its low- 42360. Today it traded inside previous day's range completely. Nothing was triggered as per trade setup. Index has formed a 160 points range in last 2 days. Breakout of this range (42625 and 42360) will trigger the next move. Initial target post breakout will be 250 points either side.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42625 then we will long for the target of 42835 and 43055.
For selling we need a 15 Min candle close below 42360. Target will be 42190 and near 42000.
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.
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