BANKNIFTY Intraday Trade Setup For 17 Feb 2023
Buy-Above 41865
Sl-41755
T-42000 42185
Sell-Below 41520
Sl- 41630
T- 41337 41150
BANKNIFTY has closed on a slight bearish sentiment with almost 100 points cut. Today it opened gap up directly at first target which was a PRZ plotted. As usual it fell from PRZ however the momentum was messy due to low VIX. 10 o'clock range broke downside below 41810 and made a low of 41525. Sl was just 85 points. However it was in two legs. It has closed near day low so below today's low it may continue the down move. Only hurdle is 41450. If 41450 is sustained then it will dive.
Coming to Friday's trade setup, if index opens flat and 15 Min candle closes above 41865 then we will long for the target of 42000. Above 42050 it will test 42185 and 42350.
For selling we need a 15 Min candle close below 41520. T- 41337 and 41150.
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 41865
Sl-41755
T-42000 42185
Sell-Below 41520
Sl- 41630
T- 41337 41150
BANKNIFTY has closed on a slight bearish sentiment with almost 100 points cut. Today it opened gap up directly at first target which was a PRZ plotted. As usual it fell from PRZ however the momentum was messy due to low VIX. 10 o'clock range broke downside below 41810 and made a low of 41525. Sl was just 85 points. However it was in two legs. It has closed near day low so below today's low it may continue the down move. Only hurdle is 41450. If 41450 is sustained then it will dive.
Coming to Friday's trade setup, if index opens flat and 15 Min candle closes above 41865 then we will long for the target of 42000. Above 42050 it will test 42185 and 42350.
For selling we need a 15 Min candle close below 41520. T- 41337 and 41150.
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.
