BANKNIFTY Intraday Trade Setup For 17 May 2023
Buy-Above 44155
Sl-44050
T- 44355 44555
Sell-Below 43810
Sl-43915
T- 43570 43330
BANKNIFTY has closed on a bearish note with 0.38% cut today. Yesterday it was updated that our long target is hit (42385-44150). A pause was obvious after a fantastic rally. Sell triggered as per trade setup and gave around 130 points gain (44000-43852). If a daily candle closes below PDL and below that red candle's low we will book longs completely and in this case will will initiate the pullback move. Bullish momentum above 44155 and below 43810 downside momentum possible.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44155 then we will long for the target of 44355 and 44555.
For selling we need a 15 Min candle close below 43810. T- 43570 and 43330.
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 44155
Sl-44050
T- 44355 44555
Sell-Below 43810
Sl-43915
T- 43570 43330
BANKNIFTY has closed on a bearish note with 0.38% cut today. Yesterday it was updated that our long target is hit (42385-44150). A pause was obvious after a fantastic rally. Sell triggered as per trade setup and gave around 130 points gain (44000-43852). If a daily candle closes below PDL and below that red candle's low we will book longs completely and in this case will will initiate the pullback move. Bullish momentum above 44155 and below 43810 downside momentum possible.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44155 then we will long for the target of 44355 and 44555.
For selling we need a 15 Min candle close below 43810. T- 43570 and 43330.
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.
