BANKNIFTY Intraday Trade Setup For 10 Feb 2023
Buy-Above 41625
Sl-41515
T-41810 42000+
Sell-Below 41450
Sl-41560
T-41255 41069
BANKNIFTY has closed on a flat note with just 16 points gain today. It has been closing exactly at the same place for the last 3 days. Daily candle looks like a buyer's candle and above its high buyers should dominate and in that case it can test 42000 round level which is also a swing high in hourly TF. Below its low aggressive selling can be seen and that will be breakdown in hourly TF. These two levels are important. Today market opened with a slight gap up and sell triggered below 41400 and very smoothly it gave 150 points gain; more than 1:1.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 41625 then we will long for the target of 41820 and 42000+
For selling we need a 15 Min candle close below 41450. T- 41250. Below 41250 if sustained then aggressive selling can be seen till plotted targets.
Be strict with trailing with RR
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 41625
Sl-41515
T-41810 42000+
Sell-Below 41450
Sl-41560
T-41255 41069
BANKNIFTY has closed on a flat note with just 16 points gain today. It has been closing exactly at the same place for the last 3 days. Daily candle looks like a buyer's candle and above its high buyers should dominate and in that case it can test 42000 round level which is also a swing high in hourly TF. Below its low aggressive selling can be seen and that will be breakdown in hourly TF. These two levels are important. Today market opened with a slight gap up and sell triggered below 41400 and very smoothly it gave 150 points gain; more than 1:1.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 41625 then we will long for the target of 41820 and 42000+
For selling we need a 15 Min candle close below 41450. T- 41250. Below 41250 if sustained then aggressive selling can be seen till plotted targets.
Be strict with trailing with RR
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.
