BANKNIFTY Intraday Trade Setup For 13 Feb 2023
Buy-Above 41680
Sl- 41570
T-41810 42000+
Sell-Below 41420
Sl-41510
T- 41255 41070
BANKNIFTY has closed a absolute flat note last week. Its a neutral closing and whole week was heavy rangebound. Inside candle has been formed in weekly charts. Above/below mother candle's high/low there will be a range shift. That range has been created by the Union Budget. Since then index is inside range. Also VIX fell vertically after the budget due to which swings have contracted and have been short length. Important swing in hourly TF are 41800 and 41100. Breakout will trigger start of directional move.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41680 then we will long for the target of 41810 and 42000+.
For selling we need a 15 Min candle close below 41420. T- 41250. Below that we will hit 41100-41070.
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 41680
Sl- 41570
T-41810 42000+
Sell-Below 41420
Sl-41510
T- 41255 41070
BANKNIFTY has closed a absolute flat note last week. Its a neutral closing and whole week was heavy rangebound. Inside candle has been formed in weekly charts. Above/below mother candle's high/low there will be a range shift. That range has been created by the Union Budget. Since then index is inside range. Also VIX fell vertically after the budget due to which swings have contracted and have been short length. Important swing in hourly TF are 41800 and 41100. Breakout will trigger start of directional move.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41680 then we will long for the target of 41810 and 42000+.
For selling we need a 15 Min candle close below 41420. T- 41250. Below that we will hit 41100-41070.
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.
