BANKNIFTY Intraday Trade Setup For 15 May 2023
BANKNIFTY Intraday Trade Setup For 15 May 2023
Buy-Above 43910
Sl-43805
T- 44110 44305
Sell-Below 43595
Sl-43700
T- 43330 43070
BANKNIFTY closed on a bullish sentiment last day and week with 0.73% and 2.65% respectively. Last week it was said that we are likely to create a sideways momentum. It was moreover in range of 42600 and 43800. Upper range has been tested last day of the week. Above 43910, range is likely to shift and chances of a fresh ATH is very high. We have been riding our long trade from 42385. If a daily candle closes below PDL and that red candle's low is breached then we will exit with that as TSL. Also this will create a pullback scenario.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 43910 then we will long for the target of 44110 and 44305.
For selling we need a 15 Min candle close below 43595. T- 43330 and 43070.
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 43910
Sl-43805
T- 44110 44305
Sell-Below 43595
Sl-43700
T- 43330 43070
BANKNIFTY closed on a bullish sentiment last day and week with 0.73% and 2.65% respectively. Last week it was said that we are likely to create a sideways momentum. It was moreover in range of 42600 and 43800. Upper range has been tested last day of the week. Above 43910, range is likely to shift and chances of a fresh ATH is very high. We have been riding our long trade from 42385. If a daily candle closes below PDL and that red candle's low is breached then we will exit with that as TSL. Also this will create a pullback scenario.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 43910 then we will long for the target of 44110 and 44305.
For selling we need a 15 Min candle close below 43595. T- 43330 and 43070.
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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