BANKNIFTY Intraday Trade Setup For 21 Feb 2023
Buy-Above 40765
Sl-40655
T-40910 41050
Sell-Below 40580
Sl-40690
T- 40375 40170
BANKNIFTY has closed on a bearish sentiment with 1% cut today. Once again it has closed near day low just like last session. So below today's low bearish momentum is likely to continue. Today it opened almost flat and buy triggered above 41180 and gave gave 110 points gain which was 1:1. It was updated to trail sl to cost and our TSL was hit. Later 10 o'clock range broke downside below 41080 and made a low of 40585. Sell was also triggered below 40880 and that also hit our target smoothly.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40765 then we will long for the target of 40910 and 41050.
For selling we need a 15 Min candle close below 40580. T- 40375 and 40170.
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 40765
Sl-40655
T-40910 41050
Sell-Below 40580
Sl-40690
T- 40375 40170
BANKNIFTY has closed on a bearish sentiment with 1% cut today. Once again it has closed near day low just like last session. So below today's low bearish momentum is likely to continue. Today it opened almost flat and buy triggered above 41180 and gave gave 110 points gain which was 1:1. It was updated to trail sl to cost and our TSL was hit. Later 10 o'clock range broke downside below 41080 and made a low of 40585. Sell was also triggered below 40880 and that also hit our target smoothly.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40765 then we will long for the target of 40910 and 41050.
For selling we need a 15 Min candle close below 40580. T- 40375 and 40170.
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.
