BANKNIFTY Intraday Trade Setup For 18 Apr 2022
BANKNIFTY Intraday Trade Setup For 18 Apr 2022
Buy-Above 38000
Sl-37900
T-38300 38600
Sell-Below 37260
Sl-37360
T-37000 36800
BANKNIFTY is inside the previous week trading range. Since last 6 trading session index has been trading in the same range. Inside a complete range of 38000 and 37250. Directional move will come above and below the range high and range low respectively. Probability of breaking this range in the next attempt is pretty much high. Expected target after range breakout will be 700 points either side.
Coming to Monday's trade setup, we will buy 38000 if a 15 Min candle closes above the range high. Target will be 38200 and 38500. Final target 38590-38600.
For selling if we get a 15 min candle close below 37260. Target will be 37100 and 37000. below 37000 next targets will be 36800 and 36500. Aggressive one can short below 37400 on a 15 min candle close below that.
In case of a big gap up/down, wait till 10 o'clock and trade on 10 o'clock range breakout.
Buy-Above 38000
Sl-37900
T-38300 38600
Sell-Below 37260
Sl-37360
T-37000 36800
BANKNIFTY is inside the previous week trading range. Since last 6 trading session index has been trading in the same range. Inside a complete range of 38000 and 37250. Directional move will come above and below the range high and range low respectively. Probability of breaking this range in the next attempt is pretty much high. Expected target after range breakout will be 700 points either side.
Coming to Monday's trade setup, we will buy 38000 if a 15 Min candle closes above the range high. Target will be 38200 and 38500. Final target 38590-38600.
For selling if we get a 15 min candle close below 37260. Target will be 37100 and 37000. below 37000 next targets will be 36800 and 36500. Aggressive one can short below 37400 on a 15 min candle close below that.
In case of a big gap up/down, wait till 10 o'clock and trade on 10 o'clock range breakout.
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