BANKNIFTY Intraday Trade Setup For 23 Feb 2023
Buy-Above 40135
Sl-40025
T- 40400 40700
Sell-Below 39895
Sl-40005
T- 39650 39400
BANKNIFTY has once again closed on a bearish sentiment with 1.67% cut. Since last 5 Trading sessions it is under bears grip very firmly. Last Sunday it was told that below Last Friday's low and below last week's low we will give a very good down move and we can test the lower range of the Budget Day. Job is almost done with more than 1000 points gain. Today sell triggered as per trade setup and hit all the two targets mentioned (40500-39900). Also it can take a halt as it has not given decent pullback in the whole down move we enjoyed.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40135 then we will long for the target of 40400. if it sustains above 40400 after rejection then it head higher.
For selling we need a 15 Min candle close below 39895. T- 39650 and 39400.
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 40135
Sl-40025
T- 40400 40700
Sell-Below 39895
Sl-40005
T- 39650 39400
BANKNIFTY has once again closed on a bearish sentiment with 1.67% cut. Since last 5 Trading sessions it is under bears grip very firmly. Last Sunday it was told that below Last Friday's low and below last week's low we will give a very good down move and we can test the lower range of the Budget Day. Job is almost done with more than 1000 points gain. Today sell triggered as per trade setup and hit all the two targets mentioned (40500-39900). Also it can take a halt as it has not given decent pullback in the whole down move we enjoyed.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40135 then we will long for the target of 40400. if it sustains above 40400 after rejection then it head higher.
For selling we need a 15 Min candle close below 39895. T- 39650 and 39400.
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.
