BANKNIFTY Intraday Trade Setup For 18 May 2022
Buy_1-Above 34400
Sl-34250
T-34600 34800 35000
Buy_2- From 34000
Sl-33850
T-34300 34600 35000
BANKNIFTY has closed with 2% gain on Tuesday. It went as per our plan. We planned to buy above 33800. It closed at day high at 34300. It gave 500 points gain. This was smooth. Now 34000 will act as a support. No aggressive selling from now. As index has taken a U turn.
Coming to tomorrow's trade setup, if a 15 min candle closes above today's high 34450 then above the breakout candle we will long for the target of 34600, 34800, 35000 and 35250.
In case it tests 34000 in the 1st 45 min then long from 34000 for the target of 34300, 34600 and 34800.
For selling look for a negative price action below 33900.
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 Support-34000
Intraday Resistance- 34800
Hourly Support-33000
Hourly Resistance- 35500
Buy_1-Above 34400
Sl-34250
T-34600 34800 35000
Buy_2- From 34000
Sl-33850
T-34300 34600 35000
BANKNIFTY has closed with 2% gain on Tuesday. It went as per our plan. We planned to buy above 33800. It closed at day high at 34300. It gave 500 points gain. This was smooth. Now 34000 will act as a support. No aggressive selling from now. As index has taken a U turn.
Coming to tomorrow's trade setup, if a 15 min candle closes above today's high 34450 then above the breakout candle we will long for the target of 34600, 34800, 35000 and 35250.
In case it tests 34000 in the 1st 45 min then long from 34000 for the target of 34300, 34600 and 34800.
For selling look for a negative price action below 33900.
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 Support-34000
Intraday Resistance- 34800
Hourly Support-33000
Hourly Resistance- 35500
