BANKNIFTY Intraday Trade Setup For 20 Oct 2022
BANKNIFTY Intraday Trade Setup For 20 Oct 2022
Buy-Above 40535
Sl-40420
T-40800 41000 41200
Sell-Below 40195
Sl-40305
T-39900 39710 39550
BANKNIFTY has closed on a flat note with 54 points gain, just like NIFTY. Today our 1st target in long side was hit which was triggered on 17 Oct @ 39610 (39610-39640+) . As usual a profit booking came as we booked some gains. Last day we planned to buy above 40436 which hit our 1st target very smoothly and then fall came from there. 10 o'clock range broke downside below 40448 and gave 435 points gain.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 40535 then we will long for the target of 40800, 4100 and 41200.
For selling we need a 15 Min candle close below 40195. Target will be 39900, 39710 and 39550. Be strict to trail sl to cost with RR ratio.
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 40535
Sl-40420
T-40800 41000 41200
Sell-Below 40195
Sl-40305
T-39900 39710 39550
BANKNIFTY has closed on a flat note with 54 points gain, just like NIFTY. Today our 1st target in long side was hit which was triggered on 17 Oct @ 39610 (39610-39640+) . As usual a profit booking came as we booked some gains. Last day we planned to buy above 40436 which hit our 1st target very smoothly and then fall came from there. 10 o'clock range broke downside below 40448 and gave 435 points gain.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 40535 then we will long for the target of 40800, 4100 and 41200.
For selling we need a 15 Min candle close below 40195. Target will be 39900, 39710 and 39550. Be strict to trail sl to cost with RR ratio.
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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