BANKNIFTY Intraday Trade Setup For 15 Jun 2023

BANKNIFTY Intraday Trade Setup For 15 Jun 2023

Buy-Above 44065
Sl-43960
T- 44225 44367

Sell-Below 43950
Sl-44055
T- 43780 43580

BANKNIFTY has closed with a slight cut of 0.21% today. nothing triggered as per trade setup and it was complete rangebound market. After 10 o'clock it traded within a tight range of 100 points. In hourly TF after the trendline breakdown it has not activated the lower level for downside trigger. 43870 is the hourly low, below which a good downside move will be activated. 44220 and 43870 is the hourly range. Its been almost a week index is stuck in this narrow range of 350 points. Swings will become medium length only when VIX moves above 14. Above 16 it will be a good momentum days.

Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44065 then we will long for the target of 44225 and 44367.

For selling we need a 15 Min candle close below 43950. T- 43780 and 43580.

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.