BANKNIFTY Intraday Trade Setup For 21 Jul 2022
Buy-Above 36185
Sl-36085
T-36300 36440
Sell-Below 35875
Sl-36000
T-35700 35520
BANKNIFTY has formed a indecision candle in daily TF( kind of spinning top). We may see a pause in the current upside move which started from 34500 levels. Today it opened with a very big gap up and traded in a range overall.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 35875, we will short for the target of 35675-35700. After a bounce from this region, below 35670 we will head towards 35500 and 35400 levels.
If a 5 Min candle closes above 36185 then we will long for the target of 36300 and 36440.
In case we open gap down near 35670 and a double bottom or any reversal pattern is spotted then we will long from there for the target of 35900 and 35600.
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 36185
Sl-36085
T-36300 36440
Sell-Below 35875
Sl-36000
T-35700 35520
BANKNIFTY has formed a indecision candle in daily TF( kind of spinning top). We may see a pause in the current upside move which started from 34500 levels. Today it opened with a very big gap up and traded in a range overall.
Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes below 35875, we will short for the target of 35675-35700. After a bounce from this region, below 35670 we will head towards 35500 and 35400 levels.
If a 5 Min candle closes above 36185 then we will long for the target of 36300 and 36440.
In case we open gap down near 35670 and a double bottom or any reversal pattern is spotted then we will long from there for the target of 35900 and 35600.
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.
