BANKNIFTY Intraday Trade Setup For 26 Sep 2023
Bullish-Above 44940
Invalid-Below 44830
T- 44179 45400
Bearish-Below 44580
Invalid-Above 44690
T- 44250 43917
BANKNIFTY has closed on a slight bullish note with 0.35% gain today. It was discussed in the weekend that we will give pullback of the fall and 44500 zone can be the probable bottom. Today it gave a sharp recovery of 400+ points till 44936. Now on a flat opening above today's high we will give another recovery. Also it has to be remembered that 0.382 of the recent fall will be a probable pullback which now comes near 44200 zone. 44940-50 and 44580 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44940 then we will long for the target of 45179 and 45400.
For selling we need a 15 Min candle close below 44580. T- 44250 and 43917.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
Bullish-Above 44940
Invalid-Below 44830
T- 44179 45400
Bearish-Below 44580
Invalid-Above 44690
T- 44250 43917
BANKNIFTY has closed on a slight bullish note with 0.35% gain today. It was discussed in the weekend that we will give pullback of the fall and 44500 zone can be the probable bottom. Today it gave a sharp recovery of 400+ points till 44936. Now on a flat opening above today's high we will give another recovery. Also it has to be remembered that 0.382 of the recent fall will be a probable pullback which now comes near 44200 zone. 44940-50 and 44580 are important levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44940 then we will long for the target of 45179 and 45400.
For selling we need a 15 Min candle close below 44580. T- 44250 and 43917.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
