BANKNIFTY Intraday Trade Setup For 17 Apr 2023
Buy_1-Above 42200
Sl-42090
T- 42350 42505
Buy_2- From 41750
Sl-41640
T- 41975 42200
BANKNIFTY has closed a bold bullish note last day and week with 1.38% and 2.66% gain respectively. Our long trade from 39710 has hit 2 targets very smoothly and quickly. Long trade on 20 Mar Trade Setup. Till now it has given 2400+ points gain. TSL is intact which is PDL (CB). One can book some gain now. 2 weeks back it was updated that we have changed sentiment to bullish when morning star was formed and activated in weekly TF. Last month's high has been crossed but one pullback is pretty much expected before any further up move and this will be activated when we make a bearish price structure in hourly TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42200 then we will long for the target of 42350 and 42505.
We will buy from 41750 zone also if it is tested in the 1st hour on Monday.
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_1-Above 42200
Sl-42090
T- 42350 42505
Buy_2- From 41750
Sl-41640
T- 41975 42200
BANKNIFTY has closed a bold bullish note last day and week with 1.38% and 2.66% gain respectively. Our long trade from 39710 has hit 2 targets very smoothly and quickly. Long trade on 20 Mar Trade Setup. Till now it has given 2400+ points gain. TSL is intact which is PDL (CB). One can book some gain now. 2 weeks back it was updated that we have changed sentiment to bullish when morning star was formed and activated in weekly TF. Last month's high has been crossed but one pullback is pretty much expected before any further up move and this will be activated when we make a bearish price structure in hourly TF.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42200 then we will long for the target of 42350 and 42505.
We will buy from 41750 zone also if it is tested in the 1st hour on Monday.
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.
