BANKNIFTY Intraday Trade Setup For 22 Feb 2023
BANKNIFTY Intraday Trade Setup For 22 Feb 2023
Buy-Above 40785
Sl-40675
T-41000 41160
Sell-Below 40500
Sl-40610
T-40335 40160 39955
BANKNIFTY has closed on a flat note with just 28 points cut. It opened almost flat and then took support from PDL and round level by forming two consecutive hammers. After double hammer triggered it triggered. Buy triggered above 40765 and hit 1st target. This trade gave more than 160 points gain. Later it just consolidated in the 2nd half. We will use that range to build our trade setup. In case of a gap down tomorrow sentiment of the 1st 15 Min candle will be important to watch.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 40785 then we will long for the target of 41000 and 41160.
For selling we need a 15 min candle close below 40500. T- 40335, 40160 and 39955.
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 40785
Sl-40675
T-41000 41160
Sell-Below 40500
Sl-40610
T-40335 40160 39955
BANKNIFTY has closed on a flat note with just 28 points cut. It opened almost flat and then took support from PDL and round level by forming two consecutive hammers. After double hammer triggered it triggered. Buy triggered above 40765 and hit 1st target. This trade gave more than 160 points gain. Later it just consolidated in the 2nd half. We will use that range to build our trade setup. In case of a gap down tomorrow sentiment of the 1st 15 Min candle will be important to watch.
Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 40785 then we will long for the target of 41000 and 41160.
For selling we need a 15 min candle close below 40500. T- 40335, 40160 and 39955.
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.
Trade active:
Sell triggered @40500
1st target hit
40500-40050
Book some rest you trail sl to last swing high
1st target hit
40500-40050
Book some rest you trail sl to last swing high
40500-39962.15