BANKNIFTY Intraday Trade Setup For 19 Dec 2022
Buy-Above 43450
Sl-43340
T-43620 43800
Sell-Below 43080
Sl-43190
T-42855 42630
BANKNIFTY has closed on a slight negative note last day and week. Since last 10 weeks we have been closing above previous week's low in weekly TF. Which is a positive sentiment. But if we break PWL and sustain below then we can see a good profit booking which will be the initial pullback of the mega upmove . If Friday's low will be safe then we will test 43800. Below that we will hit 42350. Only hurdle will be 43k. We have changed curve in VIX so we are likely to see medium to big length swing in intraday.
Coming to Monday's trade setup, if we open flat and a 15 Min candle closes above 43450 then we will long. T-43620 and 43800.
For selling we need a 15 min candle close below 43080. Target will be 42855 and 42630. Extended target will be 43350.
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 43450
Sl-43340
T-43620 43800
Sell-Below 43080
Sl-43190
T-42855 42630
BANKNIFTY has closed on a slight negative note last day and week. Since last 10 weeks we have been closing above previous week's low in weekly TF. Which is a positive sentiment. But if we break PWL and sustain below then we can see a good profit booking which will be the initial pullback of the mega upmove . If Friday's low will be safe then we will test 43800. Below that we will hit 42350. Only hurdle will be 43k. We have changed curve in VIX so we are likely to see medium to big length swing in intraday.
Coming to Monday's trade setup, if we open flat and a 15 Min candle closes above 43450 then we will long. T-43620 and 43800.
For selling we need a 15 min candle close below 43080. Target will be 42855 and 42630. Extended target will be 43350.
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.
