BANKNIFTY Intraday Trade Setup For 23 Dec 2022
Buy-Above 42640
Sl-42530
T- 42950 43370
Sell-Below 42230
Sl-42340
T-41890 41550
BANKNIFTY has closed on a bearish sentiment with 0.49% cut. It opened with a decent gap up near previous swing high in 15 Min TF. The bearish sentiment kicked in and gave a nose dive from there. Our sell level was 42550. I updated not to short in the impulsive move. Short after the pullback. As soon as that happened it gave a smooth fall till 41235. 10 o'clock range also broke downside. Today index gave multiple decent bounces also.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42640 then we will long for the target of 42950-42k. Next target after that will be 43370.
For selling we need a 15 Min candle close below 42230. T- 41890. Post bounce if slide then we will test 41500-50.
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 42640
Sl-42530
T- 42950 43370
Sell-Below 42230
Sl-42340
T-41890 41550
BANKNIFTY has closed on a bearish sentiment with 0.49% cut. It opened with a decent gap up near previous swing high in 15 Min TF. The bearish sentiment kicked in and gave a nose dive from there. Our sell level was 42550. I updated not to short in the impulsive move. Short after the pullback. As soon as that happened it gave a smooth fall till 41235. 10 o'clock range also broke downside. Today index gave multiple decent bounces also.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42640 then we will long for the target of 42950-42k. Next target after that will be 43370.
For selling we need a 15 Min candle close below 42230. T- 41890. Post bounce if slide then we will test 41500-50.
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.
