BANKNIFTY Intraday Trade Setup For 27 Feb 2023
Buy-Above 40070
Sl- 39960
T- 40210 40355
Sell-Below 39810
Sl-39920
T- 39700 39590
BANKNIFTY has closed on bearish sentiment with 3% cut last week. It has closed near the weekly swing low. Last week it was told that below previous week's low 40880 we will start the down move and a good fall can be expected. So has happened we saw sharp 3% cut after activation. There will be reversal if we make any Pin bar or hammer in weekly TF. Till then it will be sideways to bearish action. Below 39400 this down move will be extended. There can be sentimental halt when we will close above PDH.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle close above 40070 then we will long for the target of 40210 and 40355.
For selling we need a 15 Min candle close below 39810. T- 39590 and 39370.
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 40070
Sl- 39960
T- 40210 40355
Sell-Below 39810
Sl-39920
T- 39700 39590
BANKNIFTY has closed on bearish sentiment with 3% cut last week. It has closed near the weekly swing low. Last week it was told that below previous week's low 40880 we will start the down move and a good fall can be expected. So has happened we saw sharp 3% cut after activation. There will be reversal if we make any Pin bar or hammer in weekly TF. Till then it will be sideways to bearish action. Below 39400 this down move will be extended. There can be sentimental halt when we will close above PDH.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle close above 40070 then we will long for the target of 40210 and 40355.
For selling we need a 15 Min candle close below 39810. T- 39590 and 39370.
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.
