BANKNIFTY Intraday Trade Setup For 23 Aug 2023
Bullish-Above 44155
Invalid-Below 44045
T- 44350 44550
Bearish-Below 43930
Invalid-Above 44040
T- 43717 43500
BANKNIFTY has closed on an absolute flat note today. It was total sideways in today's market. Since last day it is juts chilling at 42K. Index traded within 200 points range the whole day. Momentum was good for non directional traders. Tomorrow we will simply use today's market range to build our trade setup. Update about the short position from 45620 is that our TSL is still intact. No candle has sustained above 44100 in hourly TF. Now 44155 is the level as TSL.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44155 then we will long for the target of 44350 and 44550.
For selling we need a 15 Min candle close below 43930. T- 44717 and 43500.
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.
Bullish-Above 44155
Invalid-Below 44045
T- 44350 44550
Bearish-Below 43930
Invalid-Above 44040
T- 43717 43500
BANKNIFTY has closed on an absolute flat note today. It was total sideways in today's market. Since last day it is juts chilling at 42K. Index traded within 200 points range the whole day. Momentum was good for non directional traders. Tomorrow we will simply use today's market range to build our trade setup. Update about the short position from 45620 is that our TSL is still intact. No candle has sustained above 44100 in hourly TF. Now 44155 is the level as TSL.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44155 then we will long for the target of 44350 and 44550.
For selling we need a 15 Min candle close below 43930. T- 44717 and 43500.
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.
