BANKNIFTY Intraday Trade Setup For 16 Nov 2022
BANKNIFTY Intraday Trade Setup For 16 Nov 2022
Buy-Above 42451
Sl-42340
T- 42640 42835
Sell-Below 42229
Sl-42340
T-42060 41920
BANKNIFTY has closed on a positive note with 0.7% gain today. Today it opened between the inside candle's range and traded inside till last hour. Nothing was triggered as per trade setup till last moment. In the late 2nd half buy triggered as per trade setup and gave 100 points move. The inside candle's range has been broken but has not closed above in daily TF. Above today's high it will be matured. Next important resistance will be 43055 which is also a round level. Below 41900 down move will be triggered.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42451 then we will long for the target of 42640 and 42835. Extended target will be 43055.
For selling we need a 15 min candle close below 42229. Target will be 42060 and 41920. Below 41900 a good down move can be seen.
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 42451
Sl-42340
T- 42640 42835
Sell-Below 42229
Sl-42340
T-42060 41920
BANKNIFTY has closed on a positive note with 0.7% gain today. Today it opened between the inside candle's range and traded inside till last hour. Nothing was triggered as per trade setup till last moment. In the late 2nd half buy triggered as per trade setup and gave 100 points move. The inside candle's range has been broken but has not closed above in daily TF. Above today's high it will be matured. Next important resistance will be 43055 which is also a round level. Below 41900 down move will be triggered.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42451 then we will long for the target of 42640 and 42835. Extended target will be 43055.
For selling we need a 15 min candle close below 42229. Target will be 42060 and 41920. Below 41900 a good down move can be seen.
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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