BANKNIFTY Intraday Trade Setup For 20 Apr 2023
Buy-Above 42250
Sl-42140
T-42515 42800
Sell-Below 42020
Sl-42130
T-41790 41560
BANKNIFTY has closed on a slight bearish sentiment with 0.26% cut today. Last day a bearish sentiment was triggered and we expected its continuation. Slowly and steadily it maintained a bearish price structure till end. This sentiment will be on till we make a bullish price structure in 15 Min TF. Also it closed below PDL in daily TF and our TSL will be hit if today's low is tested. Today it opened flat and sell triggered below 42110 and after it triggered after 1 o'clock it turned almost sideways.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42250 then we will long for the target of 42515 and 42800+.
For selling we need a 15 Min candle close below 42020. T- 41790 and 41560.
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 42250
Sl-42140
T-42515 42800
Sell-Below 42020
Sl-42130
T-41790 41560
BANKNIFTY has closed on a slight bearish sentiment with 0.26% cut today. Last day a bearish sentiment was triggered and we expected its continuation. Slowly and steadily it maintained a bearish price structure till end. This sentiment will be on till we make a bullish price structure in 15 Min TF. Also it closed below PDL in daily TF and our TSL will be hit if today's low is tested. Today it opened flat and sell triggered below 42110 and after it triggered after 1 o'clock it turned almost sideways.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42250 then we will long for the target of 42515 and 42800+.
For selling we need a 15 Min candle close below 42020. T- 41790 and 41560.
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.
