BANKNIFTY Intraday Trade Setup For 20 Feb 2023
Buy-Above 41180
Sl- 41070
T- 41370 41570
Sell-Below 40880
Sl-40990
T-40610 40390
BANKNIFTY has closed on a bearish sentiment with 1.2% cut on Friday. Weekly close is also on bearish note with 1% cut. Below current week's low- 40880 there can be more fall. Index will be bullish above 42000. In between index can be sideways momentum and price wise. However we are still inside Budget range since last 15 days. If current week's low is sustained in downside then we will head towards the lower range of the Budget day. Since last two trading sessions its a complete parabolic down move so we can expect some pullback.
Coming to Monday's trade setup, if we open flat and 15 Min candle closes above 41180 then we will long for the target of 41370 and 41570.
For selling we need a 15 Min candle close below 40880. T- 40610 and 40390.
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 41180
Sl- 41070
T- 41370 41570
Sell-Below 40880
Sl-40990
T-40610 40390
BANKNIFTY has closed on a bearish sentiment with 1.2% cut on Friday. Weekly close is also on bearish note with 1% cut. Below current week's low- 40880 there can be more fall. Index will be bullish above 42000. In between index can be sideways momentum and price wise. However we are still inside Budget range since last 15 days. If current week's low is sustained in downside then we will head towards the lower range of the Budget day. Since last two trading sessions its a complete parabolic down move so we can expect some pullback.
Coming to Monday's trade setup, if we open flat and 15 Min candle closes above 41180 then we will long for the target of 41370 and 41570.
For selling we need a 15 Min candle close below 40880. T- 40610 and 40390.
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.
