BANKNIFTY Intraday Trade Setup For 23 Aug 2022
BANKNIFTY Intraday Trade Setup For 23 Aug 2022
Buy-Above 38480
Sl-38370
T-38680 38850
Sell-Below 38250
Sl-38360
T-38025 38335 38680
BANKNIFTY has closed on a negative note with 1.77% cut today. In the weekly analysis we discussed that market is set to give a correction of the huge up move. Weekly shooting is active now. Previous day we planned to sell below 38845 for target of 38300. It hit targets. Only issue was that it opened with a decent gap down. 10 o'clock range broke downside below 38370 and gave a move till 38250.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below today's low- 38245 then we will short for the target of 38030, 37835 and 37680.
We will long above 38480 on a 15 Min candle close for the target of 38480 and 38850.
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 38480
Sl-38370
T-38680 38850
Sell-Below 38250
Sl-38360
T-38025 38335 38680
BANKNIFTY has closed on a negative note with 1.77% cut today. In the weekly analysis we discussed that market is set to give a correction of the huge up move. Weekly shooting is active now. Previous day we planned to sell below 38845 for target of 38300. It hit targets. Only issue was that it opened with a decent gap down. 10 o'clock range broke downside below 38370 and gave a move till 38250.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below today's low- 38245 then we will short for the target of 38030, 37835 and 37680.
We will long above 38480 on a 15 Min candle close for the target of 38480 and 38850.
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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