BANKNIFTY Intraday Trade Setup For 15 Feb 2023
Buy-Above 39545
Sl-39435
T- 39800 40100
Sell-Below 39335
Sl-39445
T- 39130 38835
BANKNIFTY has closed on a bearish sentiment with 0.39% cut. Below our extended sell level- 40340 it has given 1200 points (40340-39135) gain in just 2 days. Hope everyone captured this move very smoothly as it did not gave any fear by pullback. Now it has formed a spinning top candle in daily TF which is a sign of halt/reversal. Above 39545 it may start the pullback move and above today's high if sustained it can give decent pullback. Below 39130 down move will continue. Today sell triggered below 39450 and almost hit our 1st target.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 39545 then we will long for the target of 39800 and 40100.
For selling we need a 15 Min candle close below 39335. T- 39130,below this it will test 38835.
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 39545
Sl-39435
T- 39800 40100
Sell-Below 39335
Sl-39445
T- 39130 38835
BANKNIFTY has closed on a bearish sentiment with 0.39% cut. Below our extended sell level- 40340 it has given 1200 points (40340-39135) gain in just 2 days. Hope everyone captured this move very smoothly as it did not gave any fear by pullback. Now it has formed a spinning top candle in daily TF which is a sign of halt/reversal. Above 39545 it may start the pullback move and above today's high if sustained it can give decent pullback. Below 39130 down move will continue. Today sell triggered below 39450 and almost hit our 1st target.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 39545 then we will long for the target of 39800 and 40100.
For selling we need a 15 Min candle close below 39335. T- 39130,below this it will test 38835.
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.
