BANKNIFTY Intraday Trade Setup For 15 Nov 2022
Buy-Above 42350
Sl-42230
T- 42580 42835 43055
Sell- Below 41915
Sl-42025
T-71725 41530 41300
BANKNIFTY has closed on a flat note with just 60 points cut. An inside candle has been formed in daily TF. Inside candle's are formed when there is volatility contraction, today it traded within a small range of 270 points only. Today sell triggered as per trade setup and gave almost 1:1 profit. Already updated to manage RR in these sideways market. Inside candle's range is 42350 and 41915. Breakout of this range can decide the next momentum any side.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 43055.
For selling we need a 15 Min candle close below 41915. Target will be 41725, 41530. Below 41500 we can test 41300 and below. Index will be weak below 41965.
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 42350
Sl-42230
T- 42580 42835 43055
Sell- Below 41915
Sl-42025
T-71725 41530 41300
BANKNIFTY has closed on a flat note with just 60 points cut. An inside candle has been formed in daily TF. Inside candle's are formed when there is volatility contraction, today it traded within a small range of 270 points only. Today sell triggered as per trade setup and gave almost 1:1 profit. Already updated to manage RR in these sideways market. Inside candle's range is 42350 and 41915. Breakout of this range can decide the next momentum any side.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 43055.
For selling we need a 15 Min candle close below 41915. Target will be 41725, 41530. Below 41500 we can test 41300 and below. Index will be weak below 41965.
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.
