BANKNIFTY Intraday Trade Setup For 15 Feb 2023
Buy-Above 41720
Sl-41610
T-41865 42000
Sell-Below 41565
Sl-41675
T-41395 41200
BANKNIFTY has closed on a bullish sentiment with more 0.89% gain today. It gaped up slightly and then later buy triggered as per trade setup @41380 and made a high of 41700+. This trade gave more than 300 points gain. As it gaped up, 10 o'clock range also broke upside above 41405 and from here also it gave almost 300 points. It has close near day high and range high - 42000 in hourly TF. Bullish momentum likely to continue above today's high. Below 41100 it will start making bearish price structure and will initiate a downfall in hourly TF. There is a high possibility of huge gap up/down due to CPI data outcome in US.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41720 then we will long for the target of 41865 and 42000+.
For selling we need a 15 Min candle close below 41565. T- 41395. Post bounce from 41400 zone if it continues bearish structure then we will hit 41200 also.
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 41720
Sl-41610
T-41865 42000
Sell-Below 41565
Sl-41675
T-41395 41200
BANKNIFTY has closed on a bullish sentiment with more 0.89% gain today. It gaped up slightly and then later buy triggered as per trade setup @41380 and made a high of 41700+. This trade gave more than 300 points gain. As it gaped up, 10 o'clock range also broke upside above 41405 and from here also it gave almost 300 points. It has close near day high and range high - 42000 in hourly TF. Bullish momentum likely to continue above today's high. Below 41100 it will start making bearish price structure and will initiate a downfall in hourly TF. There is a high possibility of huge gap up/down due to CPI data outcome in US.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41720 then we will long for the target of 41865 and 42000+.
For selling we need a 15 Min candle close below 41565. T- 41395. Post bounce from 41400 zone if it continues bearish structure then we will hit 41200 also.
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.
