BANKNIFTY Intraday Trade Setup For 02 Feb 2024
Bullish-Above 46320
Invalid-Below 46210
T- 46826 47315
Bearish-Below 45650
Invalid-Above 45760
T- 45050 44390
BANKNIFTY has closed on a on bullish note with 0.42% gain. It was sideways to bullish, complete sideways after 12 PM. Premiums crashed like anything due to VIX crashing nearly 10%. No big moves seen on event day. It has closed near day high so above 46320 tomorrow there can be good upside move till 46826 as per ABCD plotted. In case it breaks 45650 is broken then there can be good selling.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle close above 46320 then we will long for the target of 46826 and 47315.
For selling we need a 15 Min candle close below 45650. T- 45045 and 44390.
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 46320
Invalid-Below 46210
T- 46826 47315
Bearish-Below 45650
Invalid-Above 45760
T- 45050 44390
BANKNIFTY has closed on a on bullish note with 0.42% gain. It was sideways to bullish, complete sideways after 12 PM. Premiums crashed like anything due to VIX crashing nearly 10%. No big moves seen on event day. It has closed near day high so above 46320 tomorrow there can be good upside move till 46826 as per ABCD plotted. In case it breaks 45650 is broken then there can be good selling.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle close above 46320 then we will long for the target of 46826 and 47315.
For selling we need a 15 Min candle close below 45650. T- 45045 and 44390.
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.
