BANKNIFTY Intraday Trade Setup For 21 Dec 2022

BANKNIFTY Intraday Trade Setup For 21 Dec 2022

Buy-Above 43455
Sl-43350
T-43775 44000

Sell-Below 43155
Sl-43265
T-42960 42700

BANKNIFTY has closed almost on a flat note with slight cut of 50 points. It has closed near day high which is a sign of bullish sentiment. This momentum will continue above today's high if sustained . Today sell triggered as per trade setup below 43290 and gave a smooth fall till 42960. Yesterday it was mentioned in the trade setup that 43000 is will be a strong hurdle. We saw 400 points V shape recovery from there.

Coming to Wednesday's trade setup, if index opens flat an 15 Min candle closes above 43455 then we will long for the target of 43775 and 44000.

For selling we need a 15 Min candle close below 43155. T-42960. Below 42950 we will proceed towards 42500.

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.