BANKNIFTY Intraday Trade Setup For 21 Nov 2022
BANKNIFTY Intraday Trade Setup For 21 Nov 2022
Buy-Above 42480
Sl-42370
T-42620 42835 43055
Sell-Below 42220
Sl-42330
T-42060 41918 41725
BANKNIFTY closed on an absolute flat note on Friday. The week ended with a slight gain of less than 1%. In nut sell whole week was sideways. Last day as per trade setup, sell triggered and gave 140 points gain. Later it closed at mid point. Small range i.e 42625 and 42220 will decide the next move on breakout. Also we need a proper price structure (M) for sell side. This small range is important to watch out for a ultra short span of time.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42480 then we will long for the target of 42620. Above 42650 if sustained then we will hit 42835 an 43055.
For selling we need a 15 Min candle close below 42220. Target will be 42060. Below 42000 if sustained we will hit 41725.
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 42480
Sl-42370
T-42620 42835 43055
Sell-Below 42220
Sl-42330
T-42060 41918 41725
BANKNIFTY closed on an absolute flat note on Friday. The week ended with a slight gain of less than 1%. In nut sell whole week was sideways. Last day as per trade setup, sell triggered and gave 140 points gain. Later it closed at mid point. Small range i.e 42625 and 42220 will decide the next move on breakout. Also we need a proper price structure (M) for sell side. This small range is important to watch out for a ultra short span of time.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42480 then we will long for the target of 42620. Above 42650 if sustained then we will hit 42835 an 43055.
For selling we need a 15 Min candle close below 42220. Target will be 42060. Below 42000 if sustained we will hit 41725.
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.
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