BANKNIFTY Intraday Trade Setup For 24 Feb 2022
Buy-Above 37800
Sl-37700
T-37900 38000
Sell-Below 37290
Sl-37390
T-37160 37000
BANKNIFTY has closed almost flat today. We discussed that it is likely to be sideways. We planned to buy above 37670, we just got 100 points then price structure changed and become sideways. Today it made a descending triangle and breakdown happed at last 30 Min.
Coming to tomorrow's expiry day trade setup, we will sell below today's low 37290 for the target of 37150-37160. We have to plan small targets as index is sideways in all the TF.
If we opens gap down and makes a bullish candle in the 1st 5 min then above that candle high we will buy, same candle low will be sl.
For buying we do not have a good setup. Best buying will be only above today's high i.e 37800. Till then no aggressive buying. However we can plan a small buy trade above 37700 if a 15 Min candle closes above that.
37150-37160 can act as a support if we find a bullish candle then we can plan a buy trade above that candle high.
Directional move will come only above 38000 and below 36800.
Buy-Above 37800
Sl-37700
T-37900 38000
Sell-Below 37290
Sl-37390
T-37160 37000
BANKNIFTY has closed almost flat today. We discussed that it is likely to be sideways. We planned to buy above 37670, we just got 100 points then price structure changed and become sideways. Today it made a descending triangle and breakdown happed at last 30 Min.
Coming to tomorrow's expiry day trade setup, we will sell below today's low 37290 for the target of 37150-37160. We have to plan small targets as index is sideways in all the TF.
If we opens gap down and makes a bullish candle in the 1st 5 min then above that candle high we will buy, same candle low will be sl.
For buying we do not have a good setup. Best buying will be only above today's high i.e 37800. Till then no aggressive buying. However we can plan a small buy trade above 37700 if a 15 Min candle closes above that.
37150-37160 can act as a support if we find a bullish candle then we can plan a buy trade above that candle high.
Directional move will come only above 38000 and below 36800.
