BANKNIFTY Intraday Trade Setup For 21 Apr 2023
Buy-Above 42380
Sl-42270
T- 42615 42830
Sell-Below 42100
Sl-42200
T- 41790 41530
BANKNIFTY has closed with a slight gain of 0.27% gain today. In nutshell it is just sideways and there is no surprise in that. Already on 19 Apr Apr trade setup it was explained that we have entered entered the contraction phase and this is very common and obvious after an impulse. Now it has formed a symmetrical triangle in 1hourly chart. We will simply wait for the breakout. We have to be neutral and let market decide the direction on breakout. 42380 and 42100 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42380 then we will long for the target of 42615 and 42830.
For selling we need a 15 Min candle close below 42100. T- 41790 and 41530.
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 42380
Sl-42270
T- 42615 42830
Sell-Below 42100
Sl-42200
T- 41790 41530
BANKNIFTY has closed with a slight gain of 0.27% gain today. In nutshell it is just sideways and there is no surprise in that. Already on 19 Apr Apr trade setup it was explained that we have entered entered the contraction phase and this is very common and obvious after an impulse. Now it has formed a symmetrical triangle in 1hourly chart. We will simply wait for the breakout. We have to be neutral and let market decide the direction on breakout. 42380 and 42100 are important levels.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42380 then we will long for the target of 42615 and 42830.
For selling we need a 15 Min candle close below 42100. T- 41790 and 41530.
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.
