BANKNIFTY Intraday Trade Setup For 24 Feb 2023
Buy-Above 40150
Sl-40040
T-40290 40435
Sell-Below 39895
Sl-40005
T-39745 39590
BANKNIFTY has close on absolute flat note today. It has formed a Pinbar in daily TF. This is the 1st sign of halt/reversal after 5 consecutive bearish sessions. Above its high if sustained and closed EOD we can see good up move. However there will be pullback of the whole parabolic down move ; small or big. Its low is very important and below its low 2nd round selling we resume. Today it opened flat and sell triggered below 39895 and hit our 1st target (39895-39601). After that it traded between 370 points range.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40150 then we will long for the target of 40290 and 40435.
For selling we need a 15 Min candle close below 39895. T- 39745 and 39590.
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 40150
Sl-40040
T-40290 40435
Sell-Below 39895
Sl-40005
T-39745 39590
BANKNIFTY has close on absolute flat note today. It has formed a Pinbar in daily TF. This is the 1st sign of halt/reversal after 5 consecutive bearish sessions. Above its high if sustained and closed EOD we can see good up move. However there will be pullback of the whole parabolic down move ; small or big. Its low is very important and below its low 2nd round selling we resume. Today it opened flat and sell triggered below 39895 and hit our 1st target (39895-39601). After that it traded between 370 points range.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40150 then we will long for the target of 40290 and 40435.
For selling we need a 15 Min candle close below 39895. T- 39745 and 39590.
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.
