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Bankniftyintradaytradesetup

BANKNIFTY Intraday Trade Setup For 6 Feb 2023BANKNIFTY Intraday Trade Setup For 6 Feb 2023 Buy-Above 41540 Sl-41430 T-42000 42550+ Sell-Below 40600 Sl-40710 T- 40350 40050 BANKNIFTY has closed on a bullish sentiment with more than 2% on Friday. Weekly candle has closed almost at 50% of the previous red candle with 2.86% gain. Market is still inside inside the Budget day wide range. So my view as of now is neutral or nothing. We need some more price action for positional view. Currently it is at hourly resistance so if we a proper negative price structure forms then we will look for a sell trade or else sit tight. Intraday trade setups are more considerable than pre analysis. Coming to Monday's trade setup, if index opens flat and a 15 Min candle close above 41540 then we will long for the target of 42015 above that we will trail. For selling we need a 15 Min candle close below 40600. T- 40350 and 40050. 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.
NSE:BANKNIFTY
by Omahto
2
BANKNIFTY Intraday Trade Setup For 3 Feb 2023BANKNIFTY Intraday Trade Setup For 3 Feb 2023 Buy-Above 40760 Sl-40650 T-41110 41475 Sell-Below 40065 Sl-40180 T-37943 39420 BANKNIFTY has closed with slight gain of 0.39% gain today. It has closed near day which is a bullish indication. This bullishness will continue above today's high. But whenever there is a buy scenario always be very tight in trailing as index is in sellers control from higher TF. Yesterday it was said that I will avoid trading today. As it was sensed that index is likely to trade in a range after huge move. IV spiked yesterday and post implications are either sideway or a dead momentum. It was clearly seen in today's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40760 then we will long. T- 41110 and 41476-41500. For selling we need a 15 Min candle close below 40065. T- 39743 and 39420. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 2 Feb 2023BANKNIFTY Intraday Trade Setup For 2 Feb 2023 Buy-Above 40680 Sl-40560 T-41350 Sell-Below 39400 Sl-39520 T-38750 BANKNIFTY has closed on on a slight bearish sentiment with 0.35% cut. It was just too wild. It has created a range of 6% which translates 2500 points. The range is too big. This is a obvious scenario due to Union Budget. I will personally avoid trading the next tow sessions as the swings are just too big and we will easily be eroded by the tsunami swings. I mean the sls will be too big. BTW the trade setup worked perfectly fine. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40680 then we will long for the target of 41350. For selling we need a 15 min candle close below 39400. T- 38750. 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.
NSE:BANKNIFTY
by Omahto
FASP levels for Bank Nifty 02/02/2023The FASP for BankNifty is listed for 02-02-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 1 Feb 2023BANKNIFTY Intraday Trade Setup For 1 Feb 2023 Buy-Above 40815 Sl-40700 T-41250 41685 Sell-Below 40470 Sl-40580 T- 39945 39500 BANKNIFTY has closed on a bullish sentiment with 0.66% gain today. It has closed near day high and formed a pinbar in daily TF. Above its high bullish momentum likely to continue and below its low parabolic down move can be seen. Tomorrow is Union Budget and index will move by sentiment rather than technical. However a trend can be established after 12 o'clock. Hourly major swing high and low are 39400 and 40820. Breakout can initiate a move either side. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40815 then we will long for the target of 41250 and 41685. Ext T- 42350. For selling we need a 15 Min candle close below 40470. T- 39945 and 39500. Ext T below 39400 will be 38755. 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.
NSE:BANKNIFTY
by Omahto
7
BANKNIFTY Intraday Trade Setup For 31 Jan 2023BANKNIFTY Intraday Trade Setup For 31 Jan 2023 Buy-Above 40790 Sl-40680 T- 41275 41750 Sell-Below 39410 Sl-41520 T- 39000 38600 BANKNIFTY has closed closed on a neutral note today with just 42 points gain. This was yet another volatile day ahead of Union Budget. Today it opened with gap down of more than 1% and violent mega moves were seen. It opened and shot up more than 1000 points then fell more than 1300 points and then again shot up 1000 points. Budget volatility likely to continue this week. Trade very safely and only when Sls are smaller and RR is perfect. 10 o'clock range broke downside and gave more than 200 points. Tomorrow's closing will be important to see as where it will settle itself ahead of event. However Sentimental effect will be more than technical. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40790 then we will long for the target of 41275 and 41750. For selling we need a 15 Min candle close below 39410. T- 39000 and 38600. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 30 Jan 2023BANKNIFTY Intraday Trade Setup For 30 Jan 2023 Buy-Above 40485 Sl-40375 T-40775 41075 Sell-Below 40145 Sl-40255 T-39845 39500 BANKNIFTY has closed on bearish sentiment last day and last week. Last week was one of the largest weekly cuts in the recent months. It was being updated since last 2 weeks that if in any case index tests the support zones which were created by consecutive hammers in daily TF then index will fall sharply. Even last week it was updated the the previous weekly candle looks a buyer's candle and below its low there can be parabolic down move. So has happed after conditions met. Now we can expect a small pullback of the whole down move before any further fall till 38757. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40485 then we will long for the target of 40775 and 41075. For selling we need a 15 Min candle close below 40145. T- 39845 and 39500. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 27 Jan 2023BANKNIFTY Intraday Trade Setup For 27 Jan 2023 Sell_1- Below 41540 Sl-41650 T-41230 40997 Sell_2- From 42310 Sl-42420 T- 42000 41700 BANKNIFTY has closed a complete bearish sentiment with 2.54% cut. It was complete in selling mode since opening. Market opened flat and a sell triggered below 42615. After it was triggered it gave a nose dive till 41540. It was a a complete parabolic move. Now index has tested the weekly swing low. Below 41540 or 41500 (rounded) it will test 38757. No bullish view till there is any sign of reversal. As of now it is sell on rise. Also budget can shake any side. So be lite on overnight positions although direction is clear. Coming to Friday's trade setup, if index opens flat or gap up and 42310 is tested in then we will plan for a short trade for the target of 42000 and 41700. 2nd scenario- if index opens flat and a 15 Min candle closes below 41540 then we will short for the target of 41230 and 40997. Extended T- 40765. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 25 Jan 2023BANKNIFTY Intraday Trade Setup For 25 Jan 2023 Buy-Above 42825 Sl-42715 T- 43000 43300 Sell-Below 42615 Sl-42715 T-42415 42230 BANKNIFTY has closed on a bearish sentiment with slight cut of 0.21% today. Last day hourly range shifted above 42700 and today it made a high of 43078. Last day it was updated to trail sl to cost which PDL exactly. Today it was triggered;; NPNL. Now fresh bullish range shift in hourly TF will be above today's high- 43100. Today's closing is @ 42733.45. Below today's low it will be back to the hourly range once again. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42825 then we will long for the target 43000+. Above 43080 it will hit 43300. For selling we need a 15 Min candle close below 42615. T- 42415. Post bounce below 42400 it will test 42200-30. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 24 Jan 2023BANKNIFTY Intraday Trade Setup For 24 Jan 2023 Buy-Above 42870 Sl-42760 T-43017 43300 Sell-Below 42725 Sl-42835 T-42500-30 42297 BANKNIFTY ha closed on a bullish sentiment with 0.74% gain today. BTW this whole gain is contributed via gap up. Today it opened above the hourly resistance 42750 and took support from dot level 42750 and hit 43000 which was our buy target. Overall after gap up opening it traded within 10 o'clock range entire day. Daily candle is a spinning top which is once again a halt candle which is a sign of indecision once again. This has been the case since one week; indecision. This is due to the upcoming Union Budget. Hourly range shifted above 42700. Now support has been created exactly at cost so today's low will be TSL. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 42870 then we will long for the target of 43017 and 43300. For selling we need a 15 Min candle close below 42725. T- 42500-30 and 42297. 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.
NSE:BANKNIFTY
by Omahto