BANKNIFTY Intraday Trade Setup For 28 Feb 2024
Bullish- Above 46740
Invalid-Below 46630
T- 47250 47830
Bearish-Below 46310
Invalid-Above 46420
T- 45800 45310
BANKNIFTY has closed on an absolute flat note today. The neck-point of the breakout in daily TF is 46300 which was defended today. The plotted trendline breakout will lead index to a higher high formation. Above 46730 there will be a good upside move. Below 46300 index will give a sharp fall towards 45550 zone. High probability trade looks in the upside as is on verge of breakout of the falling parallel channel.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46730 then we will long for the target of 47250 and 47830.
For selling we need a 15 Min candle close below 46310. T- 45800 and 45310.
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 46740
Invalid-Below 46630
T- 47250 47830
Bearish-Below 46310
Invalid-Above 46420
T- 45800 45310
BANKNIFTY has closed on an absolute flat note today. The neck-point of the breakout in daily TF is 46300 which was defended today. The plotted trendline breakout will lead index to a higher high formation. Above 46730 there will be a good upside move. Below 46300 index will give a sharp fall towards 45550 zone. High probability trade looks in the upside as is on verge of breakout of the falling parallel channel.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46730 then we will long for the target of 47250 and 47830.
For selling we need a 15 Min candle close below 46310. T- 45800 and 45310.
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.
