BANKNIFTY Intraday Trade Setup For 20 Jun 2023
Buy-Above 43760
Sl- 43655
T- 43935 44115
Sell-Below 43500
Sl-43605
T- 43268 43068
BANKNIFTY has closed on a bearish note with 0.69% cut today. It was in bear's grip from the 1st candle onwards. As we have given a breakdown of the rising wedge pattern in hourly TF. 43930 is our short level as per this. Now it should not re-test again our entry price. So that will be our TSL now. 43390 is the hourly range low; breakdown can give us a smooth profit in our existing position. 43760 and 43500 are the levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43760 then we will long for the target of 43935 4415.
For selling we need a 15 Min candle close below 43500. T- 43268 and 43068.
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 43760
Sl- 43655
T- 43935 44115
Sell-Below 43500
Sl-43605
T- 43268 43068
BANKNIFTY has closed on a bearish note with 0.69% cut today. It was in bear's grip from the 1st candle onwards. As we have given a breakdown of the rising wedge pattern in hourly TF. 43930 is our short level as per this. Now it should not re-test again our entry price. So that will be our TSL now. 43390 is the hourly range low; breakdown can give us a smooth profit in our existing position. 43760 and 43500 are the levels for tomorrow's session.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43760 then we will long for the target of 43935 4415.
For selling we need a 15 Min candle close below 43500. T- 43268 and 43068.
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.
