BANKNIFTY Intraday Trade Setup For 16 Feb 2022
Buy-Above 38250
Sl-38150
T-38500 38800 39000
Sell-Below 37900
Sl-38000
T-37600 37400
BANKNIFTY has formed a big bullish candle today. It was a short covering move of more than 1250 points. We planned to sell below 36800. It can more than 150 points profit. Then we found a double bottom after 11 o'clock. As soon as neckline broke our buy trade initiated and index gave a non-stop rally after that. It was a very good profitable day.
Coming to tomorrow's trade setup , we will buy if index opens flat or below today's high and crosses above 38250. First target will be the gap area near 38500 level. Then if 38500 is sustained then again it can move to 38800 and 39000.
For selling we need a range above 38000. And on breakdown of this range below 37900 we will sell for the target of 37600 and 37400.
Buy-Above 38250
Sl-38150
T-38500 38800 39000
Sell-Below 37900
Sl-38000
T-37600 37400
BANKNIFTY has formed a big bullish candle today. It was a short covering move of more than 1250 points. We planned to sell below 36800. It can more than 150 points profit. Then we found a double bottom after 11 o'clock. As soon as neckline broke our buy trade initiated and index gave a non-stop rally after that. It was a very good profitable day.
Coming to tomorrow's trade setup , we will buy if index opens flat or below today's high and crosses above 38250. First target will be the gap area near 38500 level. Then if 38500 is sustained then again it can move to 38800 and 39000.
For selling we need a range above 38000. And on breakdown of this range below 37900 we will sell for the target of 37600 and 37400.
