BANKNIFTY Intraday Trade Setup For 23 Sep 2022 for NSE:BANKNIFTY by Omahto

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BANKNIFTY Intraday Trade Setup For 23 Sep 2022 Buy-Above 40931

Sl-40815

T-41221 41377 41529

Sell-Below 40500

Sl-40615

T-40300 40065 39867

BANKNIFTY has closed on a negative note with 1.39% cut. The daily candle is a spinning top which is a sign of indecision and these candle are formed whenever index trades in range. Range is 40280 and 41850. Breakout of this range will give us the next directional move. Last day we planned to short below 40889 and it has given more than 500 points gain. 10 o’clock range broke downside below 40795 and gave a move.

Coming to tomorrow’s trade setup, if index opens flat and a 15 Min candle closes above 40931 then we will long for the target of 41221, 41377 and 41530.

If index opens flat and a 15 Min candle closes below 40500 then we will short for the target of 40300. Below 40280 we will head towards 40065 and 39867.

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.



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