BANKNIFTY Intraday Trade Setup For 14 Feb 2024
Bullish-Above 45760
Invalid-Below 45650
T- 46450-500
Bearish-Below 45200
Invalid-Above 45310
T- 44650 44100
BANKNIFTY has closed on a bullish note with 1.38% gain today. Buy triggered as per trade setup above 45100 and hit 1st target 45750. Since 8th Feb
index is making one red and then one green in daily TF. Above today's high this pattern will be neglected and chances of a fresh up move is high. In case tomorrow is a red day then it will be really funny, lame joke from options seller. Tomorrow's 1st hourly candle will be important to watch out for a big move, incase of a shooting star it will reverse and come back to daily zone trading.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45760 then we will long for the target of 46450-500.
For selling we need a 15 Min candle close below 45200. T- 44650 and 44100.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 45760
Invalid-Below 45650
T- 46450-500
Bearish-Below 45200
Invalid-Above 45310
T- 44650 44100
BANKNIFTY has closed on a bullish note with 1.38% gain today. Buy triggered as per trade setup above 45100 and hit 1st target 45750. Since 8th Feb
index is making one red and then one green in daily TF. Above today's high this pattern will be neglected and chances of a fresh up move is high. In case tomorrow is a red day then it will be really funny, lame joke from options seller. Tomorrow's 1st hourly candle will be important to watch out for a big move, incase of a shooting star it will reverse and come back to daily zone trading.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45760 then we will long for the target of 46450-500.
For selling we need a 15 Min candle close below 45200. T- 44650 and 44100.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
