BANKNIFTY Intraday Trade Setup For 06 Feb 2024
Bullish-Above 46050
Invalid-Below 45940
T- 46710
Bearish-Below 45600
Invalid-Above 45710
T- 44915 44350
BANKNIFTY has closed on a bearish note with 0.32% cut today. It was complete sideways the whole day, traded 400 points tight range. Tomorrow we can expect directional move on today's range breakout. Both side move will be trendy and with momentum hopefully. 46050 and 45600 are important levels for tomorrow's session.
High probability trade will be in downside.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46050 then we will long for the target of 46710.
For selling we need a 15 Min candle close below 45600. T- 44915 and 44350.
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 46050
Invalid-Below 45940
T- 46710
Bearish-Below 45600
Invalid-Above 45710
T- 44915 44350
BANKNIFTY has closed on a bearish note with 0.32% cut today. It was complete sideways the whole day, traded 400 points tight range. Tomorrow we can expect directional move on today's range breakout. Both side move will be trendy and with momentum hopefully. 46050 and 45600 are important levels for tomorrow's session.
High probability trade will be in downside.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46050 then we will long for the target of 46710.
For selling we need a 15 Min candle close below 45600. T- 44915 and 44350.
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.
