BANKNIFTY Intraday Trade Setup For 26 Sep 2022
Buy-Above 39650
Sl-39535
T-39820 40000 40300
Sell-Below 39410
Sl-39525
T- 39250 39151 38960
BANKNIFTY has closed on negative sentiment on Friday with 2.67% cut. Last day we planned to short below 40500 and it hit all targets with extended gains (40500-39415). Important range (41850-40280) shifted on Friday and that was the reason behind a fast downside move. The breakout level was also the low of the weekly shooting star which got triggered hence a double force move came. Trail sl to cost for any further fall.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39650 then we will long for the target of 39821 and 40000. Above which we can retest breakdown level- 40300.
For selling we need a 5 Min candle close below 39410. Downside targets will be 39250 and 39150. Below that we will head towards 38775.
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 39650
Sl-39535
T-39820 40000 40300
Sell-Below 39410
Sl-39525
T- 39250 39151 38960
BANKNIFTY has closed on negative sentiment on Friday with 2.67% cut. Last day we planned to short below 40500 and it hit all targets with extended gains (40500-39415). Important range (41850-40280) shifted on Friday and that was the reason behind a fast downside move. The breakout level was also the low of the weekly shooting star which got triggered hence a double force move came. Trail sl to cost for any further fall.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39650 then we will long for the target of 39821 and 40000. Above which we can retest breakdown level- 40300.
For selling we need a 5 Min candle close below 39410. Downside targets will be 39250 and 39150. Below that we will head towards 38775.
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.
