BANKNIFTY Intraday Trade Setup For 18 Apr 2023
Buy-Above 42370
Sl-42260
T- 42800 43117
Sell-Below 42150
Sl-42260
T- 41975 41775
BANKNIFTY has closed on a positive note with 0.31% gain today. It was a bit volatile since opening till the day low. It opened with a crazy gap up and sold into immediately. In the weekend it was said that there is a chance of pullback before any further upside move. A pullback has been given yet small. Also our TSL for swing long position is still intact as PDL is safe (CB). Today's low is 17790 is important , breakdown can start the pullback move. Today 2nd buy level was triggered and it just gave V shape recovery almost from our 2nd buy zone mentioned in the trade setup.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42585-42.6k and 42800.
For selling we need a 15 Min candle close below 42150. T- 41975 and 41775.
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 42370
Sl-42260
T- 42800 43117
Sell-Below 42150
Sl-42260
T- 41975 41775
BANKNIFTY has closed on a positive note with 0.31% gain today. It was a bit volatile since opening till the day low. It opened with a crazy gap up and sold into immediately. In the weekend it was said that there is a chance of pullback before any further upside move. A pullback has been given yet small. Also our TSL for swing long position is still intact as PDL is safe (CB). Today's low is 17790 is important , breakdown can start the pullback move. Today 2nd buy level was triggered and it just gave V shape recovery almost from our 2nd buy zone mentioned in the trade setup.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42585-42.6k and 42800.
For selling we need a 15 Min candle close below 42150. T- 41975 and 41775.
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.
