BANKNIFTY Intraday Trade Setup For 04 Feb 2022
Buy-None
Sell-Below 38850
Sl-38950
T-38600 38350
BANKNIFTY showed 2 way moves on Thursday expiry as we discussed yesterday. Planning was to buy above 38400 but 5 candle could not close above that level. Instead it made a shooting star at the level. As soon as the low of the reversal candle broke index fell from 38300 till 38870.
Coming to Tomorrow's trade setup, the best trade will be in sell side. But index has to open flat. After opening flat if index crosses 38850 then we will sell immediately. 1st target will be the gap filling area near 38600-38500.Final target will be 38350-38300.
For buying we need to wait till we get a good closing. Ideal trade in buy side will be above 39450 only.
Best trade will be on flat opening only, Big gap or gap down will create volatility. And in that case we will wait till 10 o'clock and trade that range.
Buy-None
Sell-Below 38850
Sl-38950
T-38600 38350
BANKNIFTY showed 2 way moves on Thursday expiry as we discussed yesterday. Planning was to buy above 38400 but 5 candle could not close above that level. Instead it made a shooting star at the level. As soon as the low of the reversal candle broke index fell from 38300 till 38870.
Coming to Tomorrow's trade setup, the best trade will be in sell side. But index has to open flat. After opening flat if index crosses 38850 then we will sell immediately. 1st target will be the gap filling area near 38600-38500.Final target will be 38350-38300.
For buying we need to wait till we get a good closing. Ideal trade in buy side will be above 39450 only.
Best trade will be on flat opening only, Big gap or gap down will create volatility. And in that case we will wait till 10 o'clock and trade that range.
