BANKNIFTY Intraday Trade Setup For 23 May 2022
Buy-Above 34360
Sl-34250
T-34580 34800
Sell-Below 34150
Sl-34250
T-34000 33600
BANKNIFTY closed at day high on Friday. It has made a bullish candle in weekly TF. Important support is 33000, below this next downside move will be triggered. 34800 is the daily swing high, above which a bounce till 36650 can be expected.
Coming to Monday's trade setup, we will long above 34360 for the target of 34580-34600 and 34800.Above 34800 it can show a good upside rally.
If a 15 Min candle closes below 34150 then short for the target of 34000. Below 34000 index will head towards 33600.
Safe traders should short below 33940.
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.
Intraday Resistance- 34800
Intraday Support- 33600
Hourly Resistance- 34800
Hourly Support- 33000
Buy-Above 34360
Sl-34250
T-34580 34800
Sell-Below 34150
Sl-34250
T-34000 33600
BANKNIFTY closed at day high on Friday. It has made a bullish candle in weekly TF. Important support is 33000, below this next downside move will be triggered. 34800 is the daily swing high, above which a bounce till 36650 can be expected.
Coming to Monday's trade setup, we will long above 34360 for the target of 34580-34600 and 34800.Above 34800 it can show a good upside rally.
If a 15 Min candle closes below 34150 then short for the target of 34000. Below 34000 index will head towards 33600.
Safe traders should short below 33940.
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.
Intraday Resistance- 34800
Intraday Support- 33600
Hourly Resistance- 34800
Hourly Support- 33000
