BANKNIFTY Intraday Trade Setup For 28 Dec 2022

BANKNIFTY Intraday Trade Setup For 28 Dec 2022

Buy-Above 42930
Sl-42820
T-43245 43510

Sell-Below 42720
Sl-42835
T- 42400 42055

BANKNIFTY has closed on a slight positive note with 0.54% gain. It has closed near day high which is a positive sentiment. This bullish sentiment will continue if it sustains above today's high. Today it opened near PDH and fell sharply, around 500 points. Sell was triggered below 42530 and gave more than 1:1 profit. Later it made a Pinbar candle in 15 Min TF and made a bottom later it was converted into a double bottom. If today's high is sustained then we can test 43770 in the coming days. Below 42390 we can slide lower.

Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42930. T- 43245, 43510 and 43770. 43000 is very important and have to be keenly watched.

For selling we need a 15 Min candle close below 42720. T- 42055. Below 42000 we can test 41820 and 41600.

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.
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